Renewal of Community Bank Advisory Council, 14734 [2021-05336]

Agencies

• BUREAU OF CONSUMER FINANCIAL PROTECTION

[Federal Register Volume 86, Number 51 (Thursday, March 18, 2021)]
[Notices]
[Page 14734]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-05336]


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BUREAU OF CONSUMER FINANCIAL PROTECTION


Renewal of Community Bank Advisory Council

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice.

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SUMMARY: The Bureau of Consumer Financial Protection (Bureau), after 
consultation with the Committee Management Secretariat of the General 
Services Administration, will renew the Community Bank Advisory Council 
(the committee or the CBAC) effective on March 18, 2021. The CBAC was 
established to consult with the Bureau in the exercise of its functions 
under the Federal consumer financial laws as they pertain to community 
banks with total assets of $10 billion or less.

FOR FURTHER INFORMATION CONTACT: Manny Ma[ntilde][oacute]n, Staff 
Director, Advisory Board and Councils Section, Office of Stakeholder 
Management, Consumer Education and External Affairs Division, at 202-
435-9830, or [email protected]. If you require this document in 
an alternative electronic format, please contact 
[email protected].

SUPPLEMENTARY INFORMATION: In accordance with the provisions of the 
Federal Advisory Committee Act (FACA) (5 U.S.C. App.), the Bureau 
hereby gives notice of renewal of the Community Bank Advisory Council. 
The CBAC is a discretionary committee being renewed for the purposes of 
compliance with FACA and applicable statutes. This committee is being 
renewed concurrently with the publication of this notice by filing a 
charter with the Acting Director of the Bureau, the Committee 
Management Secretariat of the General Services Administration, the 
Library of Congress, the Committee on Banking, Housing, and Urban 
Affairs of the United States Senate, and the Committee on Financial 
Services of the United States House of Representatives. The charter 
will also be posted on the Bureau's website at www.consumerfinance.gov. 
This charter will expire two years after the filing date unless renewed 
by appropriate action.
    The purpose of the CBAC is to advise the Bureau in the exercise of 
its functions under the Federal consumer financial laws as they pertain 
to community banks with total assets of $10 billion or less. The 
Bureau's supervisory process provides an opportunity for learning and 
insight into the operations of financial institutions; having no 
corollary for small depository financial institutions, the Bureau 
created this committee to facilitate a similar opportunity for 
community banks to share insights regarding operational and technical 
considerations, community banking industry business practices, and the 
unique needs of their customers and communities. This group also 
provides timely and pertinent information on how Bureau policies impact 
community banks.
    The duties of the CBAC are solely advisory and shall extend only to 
its submission of advice and recommendations to the Bureau relating to 
the activities and operations of community banks, which shall be non-
binding on the Bureau. To ensure understanding of compliance and 
regulatory challenges faced by community banks, inclusion on the CBAC 
will be limited to community bank employees. No determination of fact 
or policy will be made by the committee, or its individual members, and 
the committee will have no formal decision-making role and no access to 
nonpublic CFPB information, to include confidential supervisory or 
other confidential information. The Bureau posts meeting minutes from 
the public advisory committee meetings on its website.
    In appointing members to the committee, the Director shall seek to 
assemble members with diverse points of view, institution asset sizes, 
and geographical backgrounds. Only bank or thrift institution employees 
(e.g., CEOs, compliance officers, government relations officials, etc.) 
will be considered for membership. Membership is limited to employees 
of banks and thrifts with total assets of $10 billion or less that are 
not affiliates of depository institutions or community banks with total 
assets of more than $10 billion.
    The CBAC shall consist of at least eight members serving two-year 
terms. All members appointed by the Director shall serve at the 
pleasure of the Director. Equal opportunity practices in accordance 
with the Bureau's policies shall be followed in all appointments to the 
committee.

    Dated: March 10, 2021.
Jocelyn Sutton,
Deputy Chief of Staff, Bureau of Consumer Financial Protection.
[FR Doc. 2021-05336 Filed 3-17-21; 8:45 am]
BILLING CODE 4810-AM-P