The CFPB established a Consumer Advisory Board to advise and consult the CFPB in the exercise of the CFPB’s functions under federal consumer financial protection laws. The Board is also tasked with providing the Bureau with information on emerging trends and practices in the financial services and products industry. The Consumer Advisory Board will consist of 16 members with “varied interests.” In conjunction with the establishment of the Board, the CFPB issued a solicitation seeking nominations for members. Section 1014(b) of the Dodd-Frank Act requires the Federal Reserve Bank Presidents to appoint not fewer than six members. Click here for the related notice.
For more information about the contents of this alert, please contact:
Consumer Financial Services
© 2014 Goodwin Procter LLP. All rights reserved. This informational piece, which may be considered advertising under the ethical rules of certain jurisdictions, is provided with the understanding that it does not constitute the rendering of legal advice or other professional advice by Goodwin Procter LLP, Goodwin Procter (UK) LLP or their attorneys. Prior results do not guarantee similar outcome.
Goodwin Procter LLP is a limited liability partnership which operates in the United States and has a principal law office located at 53 State Street, Boston, MA 02109. Goodwin Procter (UK) LLP is a separate limited liability partnership registered in England and Wales with registered number OC362294. Its registered office is at Tower 42, 25 Old Broad Street, London EC2N 1HQ. A list of the names of the members of Goodwin Procter (UK) LLP is available for inspection at the registered office. Goodwin Procter (UK) LLP is authorized and regulated by the Solicitors Regulation Authority.