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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*

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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

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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

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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

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4

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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


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102