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F ederal R eser ve Bank
OF DALLAS
W IL L IA M

H . W ALLACE

FIRST V IC E PR ES ID EN T
AND CH IE F O PER ATING O FFIC ER

DALLAS, TEXAS 7 5 2 2 2

July 8, 1987

Circular 87-48

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 eleven appointments to its Consumer Advisory Council to
replace members whose terms expire on December 31, 1987.
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 than August 31, 1987.
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.
ATTACHMENTS
The Board's press release and a list of current Council members are
attached.
MORE INFORMATION
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)

For immediate release

June 25, 1987

The Federal Reserve Board announced today that it is seeking
nominations of qualified individuals for eleven appointments to its Consumer
Advisory Council, to replace members whose terms expire on December 31, 1987.
The Consumer Advisory Council was established by Congress in 1976,
at the suggestion of the Board, to advise the Board on the exercise of its duties
under the Consumer Credit Protection Act and on other consumer-related matters.
The Council meets three times a year.
Nominations should include the name, address, and telephone number
of the nominee, past and present positions held, and special knowledge, interests
or experience related to consumer credit or other consumer financial services.
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 by August 31, 1987.
The Board’s notice, including the names, affiliations, and terms of
office of the current Council members, is attached.
-0-

Attachments

FEDERAL RESERVE SYSTEM
Consumer Advisory Council
Solicitation of Nominations for Membership

AGENCY: Board of Governors of the Federal Reserve System.
ACTION:

Solicitation of nominations for membership on the

Board's Consumer Advisory Council.
SUMMARY:

The Board is asking the public to nominate qualified

individuals for appointment to its Consumer Advisory Council.
Eleven new members will be selected for three-year terms that
will begin in January 1988.

Nominations should include the

address and telephone number of the nominee, information about
past and present positions held, and a description of special
knowledge, interests or experience related to consumer credit or
other consumer financial services.

It is contemplated that the

Board will announce its selection of new members by year-end.
DATE:

Nominations should be received by August 31, 1987.

ADDRESS:

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.

This information about nominees is

available for inspection upon request, except as provided in
the Board's Rules Regarding Availability of Information (12
C.F.R. 261.6(a)).

- 2 -

FOR FURTHER INFORMATION CONTACT:

Bedelia Calhoun, Staff

Specialist, Division of Consumer and Community Affairs, (202)
452-3305; or for Telecommunications Device for the Deaf (TDD)
users only, Earnestine Hill or Dorothea Thompson (202) 452-3544;
Board of Governors of the Federal Reserve System, Washington,
D.C. 20551.
SUPPLEMENTARY INFORMATION:

The Consumer Advisory Council was

established by the Congress in 1976 to advise the Federal Reserve
Board on the exercise of its duties under the Consumer Credit
Protection Act and on other consumer related matters.

The

Council by law represents the interests both of consumers and of
the financial community.

Members serve three-year terms that are

staggered to provide the Council with continuity.
Eleven new members will be selected this year for
terms beginning January 1, 1988.

The Board is interested in

candidates who have some familiarity with current issues in the
area of consumer credit and other consumer financial services.
In making the appointments, the Board will seek to complement the
qualifications of continuing Council members in terms of
affiliation and geographic representation, and to ensure the
representation of women and minority groups.

The Board expects

to announce its selection of new members by year-end.
The Council meets in Washington, D.C. three times a
year.

Council members are paid $100 per day for participating in

the one and a half day meetings and for travel time.
also pays travel expenses.

The Board

The names and affiliations of current Council members
(and the expiration date of each term of office) are listed
below:
Chairman
Edward N. Lange
Partner
Davis, Wright, Riese & Jones
Seattle, Washington
December 31, 1987
Vice Chairman
Steven W. Hamm
Admini strator
South Carolina Department
of Consumer Affairs
Columbia, South Carolina
December 31, 1988

Richard B. Doby
Bank Commissioner
State of Colorado
Denver, Colorado
December 31, 1989
Richard H. Fink
President
Citizens for a Sound Economy
Washington, D.C.
December 31, 1989

Members

Neil J. Fogarty
Attorney
Hudson County Legal Services
Jersey City, New Jersey
December 31, 1988

Edwin B. Brooks, Jr.
President
Security Federal Savings & Loan
Association
Richmond, Virginia
December 31, 1988

Stephen Gardner
Assistant Attorney General
Consumer Protection Division
State of Texas
Dallas, Texas
December 31, 1989

Jonathan A. Brown
Director
BankWatch
Washington, D.C.
December 31, 1987

Kenneth A. Hall
President, South Division
First United Bank
Picayune, Mississippi
December 31, 1988

Judith N. Brown
National Treasurer
American Association of
Retired Persons
Edina, Minnesota
December 31, 1989

Elena Hanggi
President
Association of Community
Organizations for Reform Now
Little Rock, Arkansas
December 31, 1989

Michael S. Cassidy
Senior Vice President
Chase Manhattan Bank, N.A.
New York, New York
December 31, 1988

Robert J. Hobbs
Senior Attorney
National Consumer Law Center
Boston, Massachusetts
December 31, 1988

Theresa Faith Cummings
Social Services Consultant
Springfield, Illinois
December 31, 1987

Ramon E . Johnson
Professor of Finance
University of Utah
Salt Lake City, Utah
December 31, 1989

_ 4 -

Robert W. Johnson
Professor of Management and
Director, Credit Research Center
Purdue University
West Lafayette, Indiana
December 31, 1988

Brenda L. Schneider
Director of Community
Relations
Manufacturers National Bank
Detroit, Michigan
December 31, 1987

John M. Kolesar
President
Ameritrust Development Bank
Cleveland, Ohio
December 31, 1988

Jane Shull
Director
Institute for the Study
of Civic Values
Philadelphia, Pennsylvania
December 31, 1988

Alan B. Lerner
Senior Executive Vice President
Associates Corporation
of North America
Dallas, Texas
December 31, 1988
Fred S. McChesney
Visiting Fellow
of Law & Economics
University of Chicago
Chicago, Illinois
December 31, 1987
Richard L. D. Morse
Professor of Family Economics
Kansas State University
Manhattan, Kansas
December 31, 1989
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. Perkowski
Chief Executive Officer
Minneapolis Federal Employees
Credit Union
Minneapolis, Minnesota
December 31, 1987

Ted L. Spurlock
Vice President and Director
of Credit and Consumer
Banking Services
J.C. Penney Company, Inc.
Dallas, Texas
December 31, 1987
Mel R. Stiller
Executive Director
Consumer Credit Counseling
Service of Eastern
Massachusetts
Boston, Massachusetts
December 31, 1987
Christopher J. Sumner
President and Chief Executive
Officer
Western Savings & Loan Company
Salt Lake City, Utah
December 31, 1987
Edward J. Williams
Senior Vice President
Consumer Bank Group
Harris Trust and Savings Bank
Chicago, Illinois
December 31, 1988
Michael Zoroya
Retail Services Consultant
The May Department Store
St. Louis, Missouri
December 31, 1987

- 5 -

Board of Governors of the Federal Reserve System,
June 23, 1987.

(signed) James McAfee
james ncAtee
Associate Secretary of the Board

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