Alert June 12, 2012

CFPB Seeks Comment on Information Collection Requirements for Consumer Advisory Board

The CFPB is soliciting comments on the information collection requirements for advisory boards, bodies or panels the CFPB anticipates establishing. Section 1014 of the Dodd-Frank Act requires the CFPB to establish a Consumer Advisory Board to advise and consult the CFPB and to provide information on emerging practices (e.g., regional trends) in the consumer financial products and services industry. The CFPB is seeking selection-related information on Consumer Advisory Board nominees, including background information and financial disclosures. Click here for the notice.