Tags: Federal Reserve | Advisory Board | Low-Income Americans | Economy

New Fed Advisory Board to Focus on Needs of Low-Income Americans

Friday, 16 Jan 2015 01:19 PM

The Federal Reserve Board said it will create a new advisory council to get input from those with consumer- and community development-related expertise to do more to gauge the needs of lower-income Americans.

The Community Advisory Council will provide information, advice and recommendations to policy makers “on a wide range of relevant policy matters and emerging issues of interest,” the Fed said in a statement in Washington.

The council will meet semiannually with the Board of Governors to give input “on the economic circumstances and financial services needs of consumers and communities, with a particular focus on the concerns of low- and moderate-income populations,” the Fed said.

The panel will have 15 members serving staggered three-year terms and will be selected by the board through a public nomination process, the Fed said. It will meet with the board in closed session, and meeting minutes will be released later, according to Fed spokeswoman Susan Stawick. The body re-establishes a similar panel that met from 1976 to 2011, when the Consumer Financial Protection Bureau was established.


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The Federal Reserve Board said it will create a new advisory council to get input from those with consumer- and community development-related expertise to do more to gauge the needs of lower-income Americans.
Federal Reserve, Advisory Board, Low-Income Americans, Economy
174
2015-19-16
Friday, 16 Jan 2015 01:19 PM
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