Federal Reserve seeking applications for its Community Advisory Council

The Federal Reserve Board is now accepting applications from individuals who wish to be considered for membership in its Community Advisory Council (CAC).

The CAC, formed in 2015, advises the board on issues that affect consumers and their communities. The council complements two of the Federal Reserve Board’s other advisory councils—the Federal Advisory Council and the Community Depository Institutions Advisory Council—whose members represent depository institutions.

The CAC is made up of a diverse group of experts and representatives of consumer and community development organizations. It is focused on a variety of interests, including affordable housing, community and workforce development, small business, and asset and wealth building.

The council meets semiannually with members of the Fed’s Board of Governors in Washington, D.C., to provide a range of perspectives on the economic circumstances and financial services needs of consumers and communities. The council focuses particularly on the concerns of low- and moderate-income consumers and communities.

The Fed expects to announce the appointment of CAC members in the fall of 2024. Applicants from previous years are encouraged to re-apply in 2024. Additional information about the selection process — including instructions for submitting an application — can be found on the Federal Register website .

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