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FEDERAL RESERVE SYSTEM Consumer Advisory Council Solicitation of Nominations for Membership AGENCY: Board of Governors of the Federal Reserve System. ACTION: Notice SUMMARY: The Board is inviting the public to nominate qualified individuals for appointment to its Consumer Advisory Council, whose membership represents consumer and community interests and the financial services industry. Nine new members will be selected for three-year terms that will begin in January 1999. The Board expects to announce the selection of new members by year-end 1998. DATE: Nominations should be received by July 31, 1998. ADDRESS: Nominations should be submitted in writing and mailed (not sent by facsimile) to Sandra F. Braunstein, Assistant Director, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, Washington, D.C. 20551. FOR FURTHER INFORMATION CONTACT: Deanna Aday-Keller, Secretary to the Council, Division of Consumer and Community Affairs, (202) 452-6470. For Telecommunications Device for the Deaf (TDD) users only: Diane Jenkins, (202) 452-3544, Board of Governors of the Federal Reserve System, Washington, D.C. 20551. SUPPLEMENTARY INFORMATION: The Consumer Advisory Council was established in 1976 at the direction of the Congress 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 services industry (15 USC 1691(b)). Under the Rules of Organization and Procedure of the Consumer Advisory Council (12 CFR 267.3), members serve three-year terms that are staggered to provide the Council with continuity. New members will be selected for terms beginning January 1, 1999, to replace members whose terms expire in December 1998; the Board expects to announce its appointment of new members by year-end. Nomination letters should include information about past and present positions held by the nominee; a description of special knowledge, interests or experience related to community reinvestment, consumer credit, or other consumer financial services; and the current address and telephone number of both the nominee and the nominator. Individuals may nominate themselves. 2 The Board is interested in candidates who have some familiarity with consumer financial services or community reinvestment, and who are willing to express their viewpoints. Candidates do not have to be experts on all levels of consumer financial services or community reinvestment, but they should possess some basic knowledge of the area. They must be able and willing to make the necessary time commitment to prepare for and attend meetings three times a year (usually for two days, including committee meetings), held at the Board Offices in Washington, D.C. The Board pays travel expenses, lodging and a nominal honorarium. In making the appointments, the Board will seek to complement the background of continuing Council members in terms of affiliation and geographic representation, and to ensure the representation of women and minority groups. The Board may consider prior years' nominees and does not limit consideration to individuals nominated by the public when making its selection. Council members whose terms end as of December 31, 1998, are: Richard S. Amador President and Chief Executive Officer CHARO Community Development Corporation Los Angeles, California Margot Saunders Managing Attorney National Consumer Law Center Washington, D.C. Heriberto Flores President and Chief Executive Officer Brightwood Development Corporation Springfield, Massachusetts Gregory D. Squires Professor Department of Sociology University of Wisconsin-Milwaukee Milwaukee, Wisconsin Francine C. Justa Executive Director Neighborhood Housing Services of New York New York, New York George P. Surgeon Chief Financial Officer and Executive Vice President Shorebank Corporation Chicago, Illinois Errol T. Louis Central Brooklyn Federal Credit Union Brooklyn, New York Theodore J. Wysocki, Jr. Executive Director Chicago Association of Neighborhood Development Organizations Chicago, Illinois William N. Lund Director Office of Consumer Credit Regulation State of Maine Augusta, Maine 3 Council members whose terms continue through 1998 and 2000 are: Walter J. Boyer President United Central Bank Garland, Texas Gwenn Kyzer Vice President, Target Marketing Service Experian, Inc. Allen, Texas Wayne-Kent A. Bradshaw President and Chief Executive Officer Family Savings Bank, FSB Los Angeles, California John C. Lamb Senior Staff Counsel Department of Consumer Affairs Legal Services Unit Sacramento, California Jeremy Eisler South Mississippi Legal Services Corp. Biloxi, Mississippi Martha W. Miller President Choice Federal Credit Union Greensboro, North Carolina Robert F. Elliott Vice Chairman Household International Prospect Heights, Illinois Daniel W. Morton Vice President and Senior Counsel The Huntington National Bank Columbus, Ohio Dwight Golann Professor of Law Suffolk University Law School Boston, Massachusetts Charlotte Newton Vice President Consumer and Government Affairs MasterCard International Washington, D.C. Marva H. Harris Senior Vice President and Manager for Community Development PNC Bank Corporation Pittsburgh, Pennsylvania Carol Parry Executive Vice President Chase Manhattan Bank New York, New York Karla Irvine Executive Director Housing Opportunities Made Equal of Greater Cincinnati, Inc. Cincinnati, Ohio Philip Price, Jr. Executive Director The Philadelphia Plan Philadelphia, Pennsylvania Janet C. Koehler Senior Manager of Electronic Commerce AT & T Universal Card Services Jacksonville, Florida David L. Ramp Attorney Legal Aid Society of Minneapolis Minneapolis, Minnesota 4 Marilyn Ross Executive Director Holy Name Housing Corporation Omaha, Nebraska Yvonne S. Sparks Vice President Nations Bank Community Investments Group St. Louis, Missouri Robert G. Schwemm Professor of Law University of Kentucky Lexingon, Kentucky Gail Small Executive Director Native Action Lame Deer, Montana David J. Shirk Senior Vice President Frontier Investment Company Eugene, Oregon Board of Governors of the Federal Reserve System, June 1, 1998. _______________________ Jennifer J. Johnson Secretary of the Board 5