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Committee Detail

Note: An Annual Comprehensive Review, as required by §7 of the Federal Advisory Committee Act, is conducted each year on committee data entered for the previous fiscal year (referred to as the reporting year). The data for the reporting year is not considered verified until this review is complete and the data is moved to history for an agency/department. See the Data From Previous Years section at the bottom of this page for the committee’s historical, verified data.

Details on agency responses to committee recommendations can be found under the Performance Measures section for each committee in the fields “Agency Feedback” and “Agency Feedback Comment.”


CFPB - 2592 - Community Bank Advisory Council - Agency Authority
Hide Section - GENERAL INFORMATION

GENERAL INFORMATION

Committee NameCommunity Bank Advisory CouncilAgency NameConsumer Financial Protection Bureau
Fiscal Year2022Committee Number2592
Original Establishment Date3/27/2017Committee StatusChartered
Actual Termination Date Committee URLhttps://www.consumerfinance.gov/about-us/adviso...
New Committee This FYNoPresidential Appointments*No
Terminated This FYNoMax Number of Members*Unlimited
Current Charter Date3/18/2021Designated Fed Officer Position Title*Staff Director, Advisory Board and Councils Office
Date Of Renewal Charter3/18/2023Designated Federal Officer Prefix
Projected Termination Date Designated Federal Officer First Name*Emmanuel.
Exempt From Renewal*NoDesignated Federal Officer Middle Name
Specific Termination AuthorityDesignated Federal Officer Last Name*Manon
Establishment Authority*Agency AuthorityDesignated Federal Officer Suffix
Specific Establishment Authority*Agency DeterminationDesignated Federal Officer Phone*(202) 435-9830
Effective Date Of Authority*2/22/2017Designated Federal Officer Fax*N/A
Exempt From EO 13875 Discretionary CmteNot ApplicableDesignated Federal Officer Email*emmanuel.manon@cfpb.gov
Committee Type*Continuing
Presidential*No
Committee Function*National Policy Issue Advisory Board
Hide Section - RECOMMENDATION/JUSTIFICATIONS

RECOMMENDATION/JUSTIFICATIONS

Agency Recommendation*Continue
Legislation to Terminate Required 
Legislation Status 
How does cmte accomplish its purpose?*The purpose of the CBAC is to advise the CFPB 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 CBAC shall advise generally on the CFPB’s regulation of consumer financial products or services provided by community banks and other topics assigned to it by the Director, as they relate to community banks. To carry out the committee’s purpose, the scope of its activities shall include providing information and analysis in support of recommendations to the CFPB. The output of committee meetings should serve to better inform the CFPB’s policy development, rulemaking, and engagement functions as they relate to community banks.
How is membership balanced?*The Director shall appoint the members of the CBAC. In appointing members to the committee, the Director shall seek to assemble representatives of community banks with diverse institution asset sizes and geographical backgrounds, and shall strive to have diversity in terms of points of view. Only bank or thrift employees (CEOs, compliance officers, government relations officials, etc.) will be considered for membership. Membership is limited to employees of community banks with total assets of $10 billion or less. Equal opportunity practices in accordance with CFPB policies shall be followed in all appointments to the committee.
How frequent & relevant are cmte mtgs?*Estimated Number of Meetings per Year - 3.
Why advice can't be obtained elsewhere?*The CFPB’s supervisory process provides an opportunity for learning and insight into the operations of large financial institutions; having no correlate for small depository financial institutions, the CFPB 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 CFPB policies impact community banks.
Why close or partially close meetings?Meetings are open to the public unless the CFPB agency head determines that items on the planned agenda are subject to the closed meeting provisions of the Government in Sunshine Act, 5 U.S.C.§552b(c). In the event of closed or partially-closed meetings, the committee will issue an annual report setting forth a summary of its activities and such related matters as would be informative to the public.
Recommendation RemarksOn December 18, 2015, Section 1013 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5493) was amended to ensure applicability of the Federal Advisory Committee Act (“FACA”) to the CFPB’s advisory committees. This committee was re-established on March 27, 2017, in accordance with FACA provisions. On June 6, 2018, as part of the CFPB’s Stakeholder Outreach and Engagement initiative, the CFPB decided to re-constitute the advisory committees with smaller membership. This committee was re-constituted on September 7, 2018, with new committee members. This committee was renewed on March 21, 2019, and on March 18, 2021 in accordance with FACA provisions.
Hide Section - PERFORMANCE MEASURES

PERFORMANCE MEASURES

Outcome Improvement To Health Or Safety*NoAction Reorganize Priorities*No
Outcome Trust In GovernmentYesAction Reallocate ResourcesNo
Outcome Major Policy ChangesNoAction Issued New RegulationsNo
Outcome Advance In Scientific ResearchNoAction Proposed LegislationNo
Outcome Effective Grant MakingNoAction Approved Grants Or Other PaymentsNo
Outcome Improved Service DeliveryYesAction OtherNo
Outcome Increased Customer SatisfactionNoAction CommentNot Applicable
Outcome Implement Laws/Reg RequirementsNoGrants Review*No
Outcome OtherNoNumber Of Grants Reviewed0
Outcome CommentCommunity Bank Advisory Council (CBAC) members provide timely feedback which helps the CFPB understand emerging trends in rapidly changing financial markets. Members typically share information about unintended consequences of rulemaking, such as compliance burdens. The CFPB has often considered members’ commentary when developing or enhancing policies.Number Of Grants Recommended0
Cost Savings*Unable to DetermineDollar Value Of Grants Recommended$0.00
Cost Savings CommentNot ApplicableGrants Review CommentNot Applicable
Number Of Recommendations*0Access Contact Designated Fed. Officer*No
Number Of Recommendations CommentThe Community Bank Advisory Council advises the CFPB in the exercise of its functions under the federal consumer financial laws as they pertain to banks or thrifts with total assets of $10 billion or less. In FY22 the committee did not convey any formal recommendations to the CFPB, but members provided information, analysis, and recommendations to CFPB staff based on their perspectives as community bankers. This feedback is particularly valuable because the CFPB’s supervisory process does not offer an opportunity for learning and insight into operations of depository institutions with less than $10 billion in total assets. The committee facilitates an opportunity for community banks to share insights regarding operational and technical considerations, community banking industry practices, and the unique needs of community bank customers and communities.

Furthermore, several members also serve as partners with the CFPB by distributing CFPB consumer education resources to their stakeholders and large audiences.

The CFPB regularly engages with committee members to receive on-the-ground feedback about the impact of the economy on consumers and financial markets. Committee members have provided significant feedback and have identified useful trends which have helped shape how the CFPB addresses emerging issues such as concerns related to core processing. Additionally, committee members have provided input on current rulemaking for issues including quality control standards for automated valuation models, small business lending, and personal financial data rights.
Access Agency WebsiteYes
% of Recs Fully Implemented*0.00%Access Committee WebsiteYes
% of Recs Fully Implemented CommentAlthough the CBAC does not provide formal comment, the committee offers an opportunity for the CFPB to hear from non-supervised entities in order to understand the impact of rulemaking and policies on smaller financial institutions. This helps the CFPB consider the impact of our rulemaking and policies on consumers and industry. To assist with this, during the selection process, the CFPB is mindful that we get a broad sweep of institutions across the nation; such as considering diverse geographical location.Access GSA FACA WebsiteYes
% of Recs Partially Implemented*0.00%Access PublicationsYes
% of Recs Partially Implemented CommentNot ApplicableAccess OtherNo
Agency Feedback*NoAccess CommentNot Applicable
Agency Feedback Comment*Not ApplicableNarrative Description*The purpose of the CBAC is to advise the CFPB 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 CBAC shall advise generally on the CFPB’s regulation of consumer financial products or services provided by community banks and other topics assigned to it by the Director, as they relate to community banks. To carry out the committee’s purpose, the scope of its activities shall include providing information and analysis in support of recommendations to the CFPB. The output of committee meetings should serve to better inform the CFPB’s policy development, rulemaking, and engagement functions as they relate to community banks.
Hide Section - COSTS

COSTS

Payments to Non-Federal Members* Est Payments to Non-Fed Members Next FY* 
Payments to Federal Members* Est. Payments to Fed Members Next FY* 
Payments to Federal Staff*$205,982.05Estimated Payments to Federal Staff*$215,982.05
Payments to Consultants* Est. Payments to Consultants Next FY* 
Travel Reimb. For Non-Federal Members* Est Travel Reimb Non-Fed Members nextFY* 
Travel Reimb. For Federal Members* Est Travel Reimb For Fed Members* 
Travel Reimb. For Federal Staff* Est. Travel Reimb to Fed Staff Next FY* 
Travel Reimb. For Consultants* Est Travel Reimb to Consultants Next FY* 
Other Costs Est. Other Costs Next FY* 
Total Costs$205,982.05Est. Total Next FY*$215,982.05
Date Cost Last Modified12/1/2022 7:39 PMEst. Fed Staff Support Next FY*1.15
Federal Staff Support (FTE)*1.15Est Cost Remarks
Cost Remarks  
Hide Section - Interest Areas

Interest Areas

Category
Area
Business
Small Business
Finance
Banking
Credit
Finance
Hide Section - MEMBERS,MEETINGS AND ADVISORY REPORTS

MEMBERS,MEETINGS AND ADVISORY REPORTS

To View all the members, meetings and advisory reports for this committee please click here
Hide Section - CHARTERS AND RELATED DOCS

CHARTERS AND RELATED DOCS

No Documents Found
Hide Section - DATA FROM PREVIOUS YEARS

DATA FROM PREVIOUS YEARS

Committee

Data from Previous Years

 
ActionCommittee System IDCommittee NameFiscal Year
 COM-039046Community Bank Advisory Council2021
 COM-037365Community Bank Advisory Council2020
 COM-035156Community Bank Advisory Council2019
 COM-032801Community Bank Advisory Council2018
 COM-001184Community Bank Advisory Council2017