CFPB Seeking Members of Credit Union Advisory Council
Applications are due by Feb. 27 and the CFPB plans to announce the new members later this summer.
The CFPB is seeking applications to serve on its Credit Union Advisory Council and several other advisory groups, according to an agency posting in Monday’s Federal Register.
Appointments generally are for two years, although the agency said the committees’ charters may be amended by agency Director Kathy Kraninger.
Applications are due by Feb. 27 and the agency said it plans to announce new members in late summer.
Besides the credit union panel, the agency has community bank, consumer and academic research groups.
The credit union advisory group charter states that the agency is seeking diverse points of view, institution size and geographical backgrounds. However, membership is limited to employees of credit unions of $10 billion or less and whose institutions are not affiliates of depository institutions with assets of more than $10 billion.
The advisory boards, including the credit union group have had a rocky past.
They were active under the regime of Obama appointee Richard Cordray.
However, when Mick Mulvaney became acting director under President Trump, he fired the members of the panel and decreased its membership from 17 to seven.
When Kraninger was confirmed and took office, she said she intended to give the panels a more active role. She said the panel could address broad policy issues; Mulvaney had restrict the panels’ work on narrow issues.
She also increased the number of in-person meetings from two to three each year.