WASHINGTON, D.C. –
This week, Consumer Financial Protection Bureau director Kathleen Kraninger announced the appointment of members to the Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC), Credit Union Advisory Council (CUAC) and Academic Research Council (ARC).
Officials said these experts advise bureau leadership on a broad range of consumer financial issues and emerging market trends.
Last spring, the CFPB recapped that Kraninger announced a series of enhancements to the bureau’s advisory committee charters, including:
— Expanding the focus of the meetings to cover broad policy matters
— Increasing the frequency of in-person meetings from two times a year to three times a year for the CAB, CBAC and CUAC
— Elevating the ARC to a Director-level advisory committee and increasing its meeting frequency
— Increasing term lengths from one year to two years, among other enhancements.
Officials reiterated the CAB is mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act to advise and consult with the bureau’s Director on a variety of consumer financial issues.
The bureau also created three additional discretionary councils: the CBAC, CUAC and ARC.
The CBAC and CUAC advise and consult with the bureau on consumer financial issues related to community banks and credit unions. The ARC advises the bureau on its strategic research planning process and research agenda and provides feedback on research methodologies, data collection strategies and methods of analysis, including methodologies and strategies for quantifying the costs and benefits of regulatory actions.
The following members will serve on each of their respective committees:
Consumer Advisory Board (CAB)
Chair of the CAB: Eric Kaplan, director of the housing finance program, Milken Institute, Washington, D.C.
Joaquin Altoro, CEO, Wisconsin Housing & Economic Development Authority, Madison, Wisc.
Nikitra Bailey, executive vice president, Center for Responsible Lending, Durham, N.C.
Lorray Brown, attorney, co-director, Michigan Poverty Law Program, Ypsilanti, Mich.
Nadine Cohen, managing attorney, Greater Boston Legal Services, Boston
David Ehrich, executive director, AIR – Alliance for Innovation Regulation, Washington, D.C.
Mae Watson Grote, founder and CEO, The Financial Clinic, Brooklyn, N.Y.
Tim Lampkin, CEO, Higher Purpose Co., Clarksdale, Miss.
Leigh Phillips, president and CEO, SaverLife, San Francisco
Jean Setzfand, senior vice president, AARP, Washington, D.C.
Rebecca Steele, president and CEO, National Foundation for Credit Counseling, Washington, D.C.
Tim Welsh, vice chairman of consumer and business banking, U.S. Bank, Minneapolis
Community Bank Advisory Council (CBAC)
Chair of the CBAC: Valerie Quiett, senior vice president and chief legal officer, Mechanics and Farmers (M&F) Bank, Durham, N.C.
John Buhrmaster, president and CEO, First National Bank of Scotia, Scotia, N.Y.
Patrick Ervin, executive vice president, Independent Bank, Troy, Mich.
Shan Hanes, president and CEO, Heartland Tri-State Bank, Elkhart, Kan.
Ronette Hauser-Jones, mortgage division president, Great Plains Bank, Oklahoma City
Bruce Ocko, senior vice president and director of mortgage and consumer lending, Bangor Savings Bank, Bangor, Maine
Kristina Schaefer, general counsel and chief risk officer, Fishback Financial Corp./First Bank & Trust, Brookings, S.D.
Brad Williamson, CEO and president, Islanders Bank, Friday Harbor, Wash.
Credit Union Advisory Council (CUAC)
Chair of the CUAC: Racardo McLaughlin, vice president of mortgage originations and operations, TwinStar Credit Union, Lacey, Wash.
Monica Davis, senior vice president of risk management, Union Square Credit Union, Wichita Falls, Texas
Michelle Dwyer, president and CEO, Franklin First Federal Credit Union, Greenfield, Mass.
Rick Durante, vice president and director of corporate social responsibility and government affairs, Franklin Mint Federal Credit Union, Chadds Ford, Pa.
Doe Gregersen, vice president and general counsel, Landmark Credit Union, New Berlin, Wisc.
Brian Holst, general counsel, Elevations Credit Union, Boulder, Colo.
Jose Iregui, vice president of loan servicing and collections, Langley Federal Credit Union, Newport News, Va.
Jeremiah Kossen, president and CEO, Town and Country Credit Union, Minot, N.D.
Academic Research Council (ARC)
Chair of the ARC: Joshua Wright, professor, Scalia Law School at George Mason University, Arlington, Va.
Michael Baye, Bert Elwert professor of business economics, Indiana University, Bloomington, Ind.
Vicki Bogan, associate professor, Cornell University, Ithaca, N.Y.
Terri Friedline, associate professor, University of Michigan, Ann Arbor, Mich.
Tom Miller, professor of finance and Jack R. Lee Chair, Mississippi State University, Starkville, Miss.
Michael Staten, professor and associate dean, University of Arizona, Tucson, Ariz.
Anthony Yezer, professor of economics, George Washington University, Washington, D.C.