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.

Consumer Advisory Council

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, D.C. It is one of three Federal Reserve advisory committees; the others are the Thrift Institutions Advisory Council and the Federal Advisory Council.
References in periodicals archive ?
The CFPB's Consumer Advisory Council is expected to shed more light on where the rule stands in a meeting scheduled for Thursday.
It also establishes a Consumer Advisory Council to advise and consult with it in the exercise of its functions and to advise and consult with it concerning other consumer related matters.
The award was named for the former Federal Reserve Governor Ned Gramlich, who served as the Board of Governors' primary liaison to the Fed's Consumer Advisory Council, advising on community development and consumer finance policy matters, according to the Opportunity Finance Network, the alliance of community development financial institutions that recognized Bynum.
A subset of the panel constitutes the Consumer Advisory Council of the International Housewares Association.
He has also been the president of the Texas Bankers Association, former director of the Federal Reserve Bank of Dallas, and a member of the Consumer Advisory Council to the Federal Reserve Board in Washington, DC.
Other items MBA has long been pushing for include loan originator licensing; a loan originator Best Practices and Code of Ethics; a national registry and repository for loan originator information; federal mortgage fraud legislation; and the establishment of an MBA Consumer Advisory Council to, among other things, discuss and promote financial education in schools.
In addition to serving as a member of the Consumers Union Board of Directors, he was appointed to several government panels, including the President's Consumer Advisory Council and President Nixon's Commission on International Trade and Investment Policy.
The IHA Consumer Advisory Council members were quite clear when we met with them last fall.
We, as the Lane Mental Health Consumer Advisory Council, strongly encourage this.
The Federal Reserve Board announced on September 29, 2005, that the Consumer Advisory Council would hold its next meeting on Thursday, October 27, 2005.
Two of the nine new members appointed by the Federal Reserve Board this January to serve on the Consumer Advisory Council (CAC) for three-year terms are from the Sixth District.
Kennedy to the Consumer Advisory Council in 1962, and subsequently appointed Chairman of the Council by President Lyndon B.