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Consumer Advisory Council; Notice of Meeting of the Consumer Advisory Council

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Information about this document as published in the Federal Register.

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The Consumer Advisory Council will meet on Thursday, March 25, 2010. The meeting, which will be open to public observation, will take place at the Federal Reserve Board's offices in Washington, DC, in Dining Room E on the Terrace Level of the Martin Building. For security purposes, anyone planning to attend the meeting should register no later than Tuesday, March 23, by completing the form found online at:​secure/​forms/​cacregistration.cfm.

Attendees must present photo identification to enter the building and should allow sufficient time for security processing.

The meeting will begin at 9 a.m. and is expected to conclude at 12:30 p.m. The Martin Building is located on C Street, NW., between 20th and 21st Streets.

The Council's function is to advise the Board on the exercise of the Board's responsibilities under various consumer financial services laws and on other matters on which the Board seeks its advice. Time permitting, the Council will discuss the following topics:

  • Proposed rules to implement the Credit Card Accountability Responsibility and Disclosure Act of 2009.

Members will discuss proposed amendments to Regulation Z requiring that credit card penalty fees be reasonable and proportional and that credit card issuers reevaluate rate increases at least once every six months.

  • Foreclosure issues.

Members will discuss loss-mitigation efforts, including the Administration's Making Home Affordable program, neighborhood stabilization initiatives and challenges, and other issues related to foreclosures.

  • Short-term and small-dollar loan products.

Members will discuss short-term and small-dollar loan products offered by financial institutions, including tax refund anticipation loans and salary advance products, and consumer protection issues related to such products.

Reports by committees and other matters initiated by Council members also may be discussed.

Persons wishing to submit views to the Council on any of the above topics may do so by sending written statements to Jennifer Kerslake, Secretary of the Consumer Advisory Council, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, Washington, DC 20551. Information about this meeting may be obtained from Ms. Kerslake at 202-452-6470.

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Board of Governors of the Federal Reserve System, March 9, 2010.

Jennifer J. Johnson,

Secretary of the Board.

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[FR Doc. 2010-5387 Filed 3-11-10; 8:45 am]