Consumer Advisory Council

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Consumer Advisory Council (CAC)

A statutory body established by Congress in 1976. The Council, with 30 members who represent a broad range of consumer and creditor interests, advises the Federal Reserve Board on the exercise of its responsibilities under the Consumer Credit Protection Act and on other matters on which the Board seeks its advice.

An organization that advises the Federal Reserve on issues affecting consumers, especially the availability of credit. The Council consists of 30 representatives and meets in Washington, DC. It is one of three Federal Reserve advisory committees; the others are the Thrift Institutions Advisory Council and the Federal Advisory Council.

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