WASHINGTON—The Bureau of Consumer Protection (BCFP) has extended the application period for those interested in becoming a member of the Bureau's Consumer Advisory Board (CAB) or an advisory council such as the Credit Union Advisory Council (CUAC).
Applications can be submitted online here; they are now due by 11:59 p.m. ET on April 30.
The CUAC was formed under the Dodd-Frank Act to provide direct feedback to CFPB on its policy development, research, rulemaking and engagement functions. The council has 15 members, all of them from credit unions with $10 billion or less in assets. Newly appointed members will serve two-year terms. Several NAFCU members currently serve on CFPB's CUAC, including two members who were appointed in July, the trade association noted.
The CAB advises the CFPB's operations based on federal consumer financial laws and provides input on how trends and current issues are affecting financial products and the financial services industry. The board currently has 25 members; it is required to have at least 16 members who have expertise in various financial services-related fields.
More information about the application process is available here.
As CUToday.info reported, Mick Mulvaney, interim director of what has been known as the Consumer Financial Protection Bureau, said this week that the agency has officially changed its name to the Bureau of Consumer Financial Protection.