The Federal Reserve Board announced on Monday that it is accepting applications from individuals who wish to be considered for membership on the Community Advisory Council (CAC). The CAC was formed in 2015. It advises the Board on issues affecting consumers and communities and complements two of the Board’s other advisory councils whose members represent depository institutions-the Federal Advisory Council and the Community Depository Institutions Advisory Council.
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. 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 Board expects to announce the appointment of CAC members in the fall of 2021. Applicants from previous years are encouraged to re-apply in 2021. Additional information about the selection process, including instructions for submitting an application, can be found in the attached Federal Register Notice.