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CFPB Consumer Advisory Board Meets on November 2nd

Tue 24 Oct, 2017  /  by   /   Client Alerts

10/24/17 – The CFPB’s Consumer Advisory Board will meet on November 2, 2017, in Tampa, Florida to discuss, among other things, the Know Before You Owe requirements for reverse mortgages and the payday lending rule.

The Consumer Advisory Board is authorized by the Dodd-Frank Act to assist the Bureau in the exercise of its functions under Federal consumer financial laws and provide information on emerging practices in the consumer financial products or services industry, including regional trends, concerns, and other relevant information.

To carry out this function, the Board provides information, analysis, and recommendations to the Bureau and serves as a vehicle for market intelligence and expertise for the Bureau. Its objectives include identifying and assessing the impact of new, emerging, and changing products, practices, or services on consumers and other market participants.

The meeting of the Consumer Advisory Board is on November 2, from 10:00 a.m. to 5:30 p.m. Eastern time, and will take place at the Hilton Tampa Downtown, 211 North Tampa Street, Tampa, FL 33602.

The Consumer Advisory Board will discuss the Bureau’s “Know Before You Owe: Reverse Mortgages” resources, financial well-being tools and resources, trends and themes, and the final rule on payday, vehicle title, and certain high-cost installment loans. A detailed agenda can be found on the CFPB’s website, here.

The CFPB will accept written comments from interested members of the public. They should be sent to CFPB_CABandCouncilsEvents@cfpb.gov, a minimum of seven (7) days in advance of the meeting. Individuals who wish to attend the Consumer Advisory Board meeting must RSVP to cfpb_cabandcouncilsevents@cfpb.gov by noon, November 1, 2017. Members of the public must RSVP by the due date and must include “CAB” in the subject line of the RSVP.

CFPB Event Page; Federal Register Notice.