WASHINGTON—The Federal Reserve is now accepting applications for membership on its Community Advisory Council (CAC).
The CAC was formed in 2015 and advises the Board on issues affecting consumers and communities, complementing two of the Board's other advisory councils whose members represent depository institutions--the Federal Advisory Council and the Community Depository Institutions Advisory Council.
According to the Fed, the CAC is “made up of a diverse group of experts and representatives of consumer and community development organizations and interests, including affordable housing, community and workforce development, small business, and asset and wealth building.”
Semi-Annual Meetings
In addition, CAC members meet semiannually with members of the Board of Governors in Washington to provide a “range of perspectives on the economic circumstances and financial services needs of consumers and communities, with a particular focus on the concerns of low- and moderate-income consumers and communities,” the Fed explained.
The Board said it expects to announce the appointment of CAC members in the fall of 2024.
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