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Feb. 13, 2014 – The CFPB Consumer Advisory Board will hold a public meeting at 10 a.m. Eastern Feb. 27 to discuss consumers' experience in the credit reporting market as well as hear remarks from CFPB Director Richard Cordray, consumer groups and community and industry representatives.

NAFCU will attend the event.

CAB was created by the Dodd-Frank Act to advise and consult with the bureau on its functions and on emerging trends and practices in the consumer financial markets. To fill it, the bureau seeks out experts in the policy areas it focuses on – consumer protection, financial services, community development, fair lending – and representatives from depository institutions that primarily serve underserved communities. It must also seek representation of covered persons and consumers "without regard to party affiliation."

There are currently two credit union representatives on CAB – Laura Castro de Cortés of Centris FCU in Omaha (a NAFCU member); and Bill Bynum of Hope FCU in Jackson, Miss.

CFPB is taking applications until Feb. 28 for seats on its Consumer Advisory Board as well the Credit Union Advisory Council. NAFCU members interested in applying should do so directly with the CFPB and contact PJ Hoffman, NAFCU's regulatory affairs counsel, by email to pjhoffman@nafcu.org.

The Feb. 27 meeting will be open to the public, but an RSVP is required.