CFPB Accepting Applications for CU Advisory Council; Feb. 24 Deadline

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The Consumer Financial Protection Bureau (CFPB) is accepting applications to serve on the Credit Union Advisory Council (CUAC).

The bureau is especially interested in individuals from credit unions that serve underserved communities or communities that have been significantly impacted by higher-priced mortgage loans.

Since the CFPB does not have direct supervision over credit unions with assets of less than $10 billion, the CUAC is how the bureau learns firsthand about how its rules and regulations affect credit unions.

Credit unions with assets greater than $10 billion can apply for membership on the Consumer Advisory Board (CAB).

Members of the advisory committees serve two-year terms. Committee members are not compensated; however, they do receive reimbursement for travel, lodging, and other expenses.

The California and Nevada Credit Union Leagues highly encourage you to apply for membership on the CUAC or CAB, as applicable. Only current credit union employees (CEOs, compliance officers, government relations officials, etc.) will be considered for membership.

The application process opened Jan. 11, 2021, and the application can be found here. Complete application packets must be received on or before Feb. 24, 2021 to be considered for membership on the CUAC or CAB.

For more information on the application process, application packet, and qualifications, click here.

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