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F ed era l R e se r v e Bank OF DALLAS DALLAS, TEXAS 75222 July 8, 1986 Circular 86-61 TO: The Chief Executive Officer of all depository institutions in the Eleventh Federal Reserve District SUBJECT Nominations to the Consumer Advisory Council DETAILS The Board of Governors of the Federal Reserve System is seeking nominations for seven appointments to its Consumer Advisory Council to replace members whose terms expire on December 31, 1986. Nominations should be submitted in writing to Dolores S. Smith, Assistant Director, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, Washington, D.C. 20551. Nominations should be received no later that August 22, 1986. The Council advises the Board on the exercise of its duties under the Consumer Credit Protection Act and on other consumer-related matters. It meets several times per year in sessions open to the public. ATTACHM ENTS The Board's press release and a list of current Council members are attached. M R INFORM OE ATION For further information please contact this Bank's Public Affairs Department at (214) 698-4403. Sincerely yours, For additional copies of any circular please contact the Public Affairs Department at (214) 651-6289. Banks and others are encouraged to use the following incoming WATS numbers in contacting this Bank (800) 442-7140 (intrastate) and (800) 527-9200 (interstate). This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) FEDERAL RESERVE press release For immediate release June 18, 1986 The Federal Reserve Board announced today that it is seeking nominations of qualified individuals for seven new appointments to its Consumer Advisory Council to serve three-year terms beginning in January 1987. The Council, established by Congress in 1976, advises the Board on the exercise of its responsibilities under the Consumer Credit Protection Act and on other matters on which the Board seeks its advise. The Council meets three times a year. Nominations should be submitted in writing to Dolores S. Smith, Assistant Director, Division of Consumer and Cannunity Affairs, Board of Governors of the Federal Reserve System, Washington, D.C. 20551. Nominations must be received no later than August 22, 1986. Nominations should include the name, address, and telephone number of the nominee. In addition, information about past and present positions held, special knowledge, interests or experience related to consumer credit or other consumer financial services should be included. The Board's notice, including the names, affiliations and terms of offices of the current Council members, is attached* - Attachment 0- FEDERAL RESERVE SYSTEM Consumer Advisory Council S o lic ita tio n of Nominations fo r Membership AGENCY: Board of Governors of the Federal Reserve System. ACTION: S o lic ita tio n of nominations fo r membership on the Board's Consumer Advisory Council. SU M R : M AY The Board 1s asking the public to nominate q u a lifie d individuals fo r appointment to I t s Consumer Advisory Council. Seven new members will be selected fo r three -y ea r terms th a t w ill begin 1n January 1987. Nominations should include the name, address, and telephone number of the nominee, together with information about past and present positions held, and special knowledge, i n te r e s t s or experience re la te d to consumer c r e d it or other consumer financial se rv ice s. The Board 1s p a r tic u la r ly In te re ste d 1n receiving nominations of persons from consumer advocacy groups, community org an izations, s t a te and local government o f f ic e s , and the academic community who have taken special I n t e r e s t 1n consumer or mortgage c r e d i t or other consumer financial se rv ice s. I t i s contemplated th a t the Board will announce I t s se lec tio n of new members by year-end. DATE: Nominations should be received by August 22, 1986. - ADDRESS: 2 - Nominations should be submitted 1n w riting to Dolores S. Smith, A ssistan t D irector, Division of Consumer and Community A ffa irs , Board of Governors of the Federal Reserve System, Washington, D. C. 20551. This Information about nominees Is a vailable fo r inspection upon request, except as provided 1n section 261.6(a) of the Board's Rules Regarding A v a ila b ility of Information. (12 C.F.R. 261.6(a)) FO FURTHER INFORM R ATION CONTACT: Bedella Calhoun, S ta ff S p e c ia lis t, Division of Consumer and Community A ffa irs, (202) 452-3305; or for Telecommunications Device fo r the Deaf (TDD) users, Earnestlne Hill or Dorothea Thompson (202) 452-3544; Board of Governors of the Federal Reserve System, Washington, D. C. 20551. SUPPLEM ENTARY INFORM ATION: The Consumer Advisory Council was established by the Congress 1n 1976 to advise the Federal Reserve Board on the exercise of I t s duties under the Consumer Credit Protection Act and on other consumerrela te d m atters. The Council by law represents the I n te r e s ts both of consumers and of the financial community. Members serve three-y ear terms th a t are staggered to provide the Council with c o n tin u ity . Seven new members will be selected th is year to replace members whose terms expire on December 31, 1986. In making the appointments, the Board will seek to complement the q u a lific a tio n s of continuing Council members 1n terms of a f f i l i a t i o n and geographic re p re se n tatio n , and to ensure the representation of women and minority groups. The Board expects to announce I t s se lectio n of new members by year-end. The Board 1s In tere sted 1n candidates who have some fa m ilia rity with cu rren t Issues 1n the area of consumer c re d it and other consumer financial serv ices. The Board i s p a rtic u la r ly In te re ste d in receiving nominations of - 3 - persons associated with consumer and community organizations, s t a te and local government o f f ic e s , and the academic community who have taken special I n te r e s t in consumer or mortgage c r e d i t or other consumer financial serv ices. The Council meets in Washington, D.C. th ree times a y e ar. Council members are paid $100 per day for p a rtic ip a tin g in the one and a h a lf day meetings and fo r travel time. The Board also pays travel expenses. The names and a f f i l i a t i o n s of current Council members (and the expiration date of each term of o ff ic e ) are l i s t e d below: Chairman Margaret M Murphy . Associate Professor and D irector, Columbia Center Johns Hopkins University Columbia, Maryland December 31, 1986 Vice Chairman Lawrence S. Okinaga Partner Carlsmi t h , Carlsmi t h , Wichman and Case Honolulu, Hawaii December 31, 1986 Edwin B. Brooks President Security Federal Savings 4 Loan Association Richmond, Virginia December 31, 1988 Jonathan A. Brown D irector BankWatch Washington, D.C. December 31, 1987 Michael S. Cassidy Senior Vice President Chase Manhattan Bank, N.A. New York, New York December 31, 1988 Members Rachel G. B ra tt A ssistan t Professor Department of Urban and Environmental Policy Tufts University Medford, Massachusetts December 31, 1986 Theresa Faith Cummings Social Services Consultant S p rin g field , I l l i n o i s December 31, 1987 Nell J . Fogarty Senior Attorney Hudson County Legal Services Jersey City, New Jersey December 31, 1988 - 4 - Steven M Geary . Associate General Counsel, Consumer C redit Missouri Division of Finance Jefferson City, Missouri December 31, 1986 Alan B. Lerner Senior Executive Vice President Associates Corporation of North America D allas, Texas December 31, 1988 Kenneth A. Hall President Great Southern National Bank of Jackson Jackson, Mississippi December 31, 1988 Fred S. McChesney A ssistan t Professor of Law Emory University A tlanta, Georgia December 31, 1987 Steven W H m . am Admi ni s t r a t o r South Carolina Department of Consumer A ffairs Columbia, South Carolina December 31, 1988 Robert J . Hobbs Senior Attorney National Consumer Law Center Boston, Massachusetts December 31, 1988 Robert W Johnson . Professor of Management and D irector, Credit Research Center Purdue University West Lafayette, Indiana December 31, 1988 John M Kolesar . President Ameritrust Development Bank Cleveland, Ohio December 31, 1988 Edward N. Lange Partner Davis, Wright, Todd, R1ese 4 Jones S e a ttle , Washington December 31, 1987 Fred H. M iller Professor of Law University of Oklahoma College of Law Norman, Oklahoma December 31, 1986 Robert F. Murphy Cha1rman General Motors Acceptance Corporation D e tro it, Michigan December 31, 1986 Helen E. Nelson President Consumer Research Foundation Mill Valley, California December 31, 1987 Sandra R. Parker Chairman, Banking Committee Richmond United Neighborhoods Richmond, Virginia December 31, 1988 Joseph L. Perkowskl Chief Executive Officer Minneapolis Federal Employees C redit Union C e n te rv ille , Minnesota December 31, 1987