CFPB names advisory board members

Consumer Financial Protection Bureau Director Kathy Kraninger announced the appointment of members to the Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, and Academic Research Council.

Consumer Financial Protection Bureau Director Kathy Kraninger announced the appointment of members to the Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, and Academic Research Council.

“The bureau is able to protect consumers in the financial marketplace better when it receives input from a wide range of experts and stakeholders,” said Director Kraninger. “With the enhancements we made earlier this year to the structure of the advisory committee program, I am confident that these groups will be able to hit the ground running in their efforts to provide meaningful feedback on bureau policy and regulations. I look forward to working with them.”

In spring 2019, Kraninger announced a series of changes to the 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; and increasing term lengths from one year to two years, among other enhancements.  

Consumer Advisory Board members are:

    • Chair Brent Neiser, senior Director, National Endowment for Financial Education, Denver
    • Nikitra Bailey,executive vice president, Center for Responsible Lending, Durham, N.C.
    • Nadine Cohen, managing attorney, Greater Boston Legal Services
    • Sameh Elamawy, CEO, Scratch Services, Inc., San Francisco
    • Manning Field, chief operating officer, Acorns, Irvine, Calif.
    • Clint Gwin, president and CEO, Pathway Lending, Nashville, Tenn.
    • Ronald Johnson, former president, Clark Atlanta University, Atlanta
    • Tim Lampkin, CEO, Higher Purpose Co., Clarksdale, Miss.
    • Eric Kaplan, director – housing finance program, Milken Institute, Washington, D.C.
    • Sophie Raseman, director of product, Brightside, San Francisco
    • Rebecca Steele, president and CEO, National Foundation for Credit Counseling, Washington, D.C.
    • Tim Welsh, vice chair consumer and business banking, U.S. Bank, Minneapolis

Community Bank Advisory Council members are: 

    • Chair Aubrey Hulings, vice president, operations manager, The Farmers National Bank of Emlenton, Pa.
    • J. Erik Beguin, founder, president and CEO, Austin Capital Bank, Austin, Texas
    • Maureen Busch, vice president compliance and CRA officer, The Bank of Tampa, Fla.
    • Patrick Ervin, executive vice president, Independent Bank, Troy, Mich.
    • Shan Hayes, president and CEO, Heartland Tri-State Bank, Elkhart, Kan.
    • Bruce Ocko, senior vice president director of mortgage & consumer lending, Bangor Savings Bank, Bangor, Maine
    • Valerie Quiett, senior vice president and chief legal officer, Mechanics and Farmers Bank, Durham, N.C.
    • Heidi Sexton, executive vice president, chief compliance and risk officer, Sound Community Bank, Seattle

Credit Union Advisory Council members are:

    • Chair Sean Cahill, president and CEO, TrueSky Credit Union, Oklahoma City
    • Arlene Babwah, vice president risk management, Coastal Federal Credit Union, Raleigh, N.C.
    • Teresa Campbell, president and CEO, San Diego County Credit Union, San Diego
    • Rick Durante, vice president, 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, Wis.
    • Brian Holst, general counsel, Elevations Credit Union, Boulder, Colo.
    • Racardo McLaughlin, vice president mortgage originations/operations, TwinStar Credit Union, Lacey, Wash.
    • Rick Schmidt, president and CEO, WestStar Credit Union, Las Vegas

Academic Research Council members are:

    • Michael Baye, Bert Elwert Professor of Business Economics, Indiana University, Bloomington, Ind.
    • Karen Dynan, professor of economics, Harvard University, Cambridge, Mass.
    • Terri Friedline, associate professor, University of Michigan, Ann Arbor, Mich.
    • John Lynch, Jr., director of the Center for Research on Consumer Financial Decision Making and Senior Associate Dean for Faculty and Research, University of Colorado Boulder
    • Brigitte Madrian, Dean/Marriott Distinguished Professor, Brigham Young University, Provo, Utah
    • Tom Miller, professor of finance and Jack R. Lee Chair, Mississippi State University, Mississippi State, Miss.
    • Joshua Wright, professor, Scalia Law School at George Mason University, Arlington, Va.

The CAB is mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act to advise and consult with the CFPB director on a variety of consumer financial issues. 

The bureau also created the other three additional discretionary councils. The CBAC and CUAC advise on consumer financial issues related to community banks and credit unions. The ARC advises on 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.

Fredrikson & Byron Law