The Federal Reserve Board on Friday announced the formation of a new advisory council that will be comprised of individuals with consumer- and community development-related expertise. The Community Advisory Council (CAC) will provide information, advice, and recommendations to the Board on a wide range of relevant policy matters and emerging issues of interest.
The CAC will meet semiannually with the Board in Washington to offer diverse 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 populations. The fifteen CAC members will serve staggered three-year terms and will be selected by the Board through a public nomination process.
Information regarding the nomination process will be provided soon. The Board plans to hold the first meeting of the CAC in the fourth quarter of 2015.
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