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January 14, 2016
Nominations open for CFPB's CUAC, CAB
Members of the public are invited to apply for membership in CFPB's Credit Union Advisory Council, Consumer Advisory Board and Community Bank Advisory Council. Nominations are due Feb. 29, and CFPB will announce newly selected members in August.
The CUAC has 15 members, all of them from credit unions with $10 billion or less in assets. Newly appointed members will serve two-year terms. The CUAC was formed under the Dodd-Frank Act to provide direct feedback to CFPB on its policy development, research, rulemaking and engagement functions.
Several NAFCU members currently serve on CFPB's CUAC. Gail DeBoer, president and CEO of SAC Federal Credit Union in Papillion, Neb., and Katey Proefke, assistant vice president of compliance for Chevron Federal Credit Union in Oakland, Calif., were both named to the council last August.
Other NAFCU members serving on CUAC include: Orion Federal Credit Union Executive Vice President and CFO Jason Lee (Memphis, Tenn.); Heritage Trust Federal Credit Union President and CEO James McDaniel (Charleston, S.C.); Kirtland Federal Credit Union President and CEO David Seely (Albuquerque, N.M.); and MariSol Federal Credit Union CEO Robin Romano (Phoenix, Ariz.).
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 is currently one credit union representative on CAB: Bill Bynum of Hope Federal Credit Union in Jackson, Miss.
Any NAFCU members interested in a seat on the councils or board should contact NAFCU Senior Regulatory Affairs Counsel Michael Emancipator, memancipator@nafcu.org. (A CFPB blog post today addresses the application process in detail; read it here.)
The CUAC has 15 members, all of them from credit unions with $10 billion or less in assets. Newly appointed members will serve two-year terms. The CUAC was formed under the Dodd-Frank Act to provide direct feedback to CFPB on its policy development, research, rulemaking and engagement functions.
Several NAFCU members currently serve on CFPB's CUAC. Gail DeBoer, president and CEO of SAC Federal Credit Union in Papillion, Neb., and Katey Proefke, assistant vice president of compliance for Chevron Federal Credit Union in Oakland, Calif., were both named to the council last August.
Other NAFCU members serving on CUAC include: Orion Federal Credit Union Executive Vice President and CFO Jason Lee (Memphis, Tenn.); Heritage Trust Federal Credit Union President and CEO James McDaniel (Charleston, S.C.); Kirtland Federal Credit Union President and CEO David Seely (Albuquerque, N.M.); and MariSol Federal Credit Union CEO Robin Romano (Phoenix, Ariz.).
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 is currently one credit union representative on CAB: Bill Bynum of Hope Federal Credit Union in Jackson, Miss.
Any NAFCU members interested in a seat on the councils or board should contact NAFCU Senior Regulatory Affairs Counsel Michael Emancipator, memancipator@nafcu.org. (A CFPB blog post today addresses the application process in detail; read it here.)
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