Announcement of meeting of the Consumer Advisory Council.The Board of Governors of the Federal Reserve System on June 1, 2004, announced that the Consumer Advisory Council Consumer Advisory Council (CAC) A statutory body established by Congress in 1976. The Council, with 30 members who represent a broad range of consumer and creditor interests, advises the Federal Reserve Board on the exercise of its responsibilities under the Consumer Credit Protection Act and on other matters on which the Board seeks its advice. would hold its next meeting on Thursday, June 24, 2004. The meeting took place in Dining Room E, Terrace level, in the Board's Martin Building. The session began at 9 a.m. EDT and was open to the public. The Council's function is to advise the Board on the exercise of its responsibilities under various consumer financial services laws and on other matters on which the Board seeks its advice. Time permitting, the Council planned to discuss the following topics: * courtesy overdraft protection * foreign bank remittances and access to financial services by new immigrants * economic growth and the regulatory paperwork reduction act of 1996 * proposed rules to the Community Reinvestment Act Community Reinvestment Act (CRA) Enacted by Congress in 1977, the CRA encourages banks to help meet the credit needs of their communities for housing and other purposes, particularly in neighborhoods with low or moderate incomes, while maintaining safe and sound operations. Reports by committees and other matters initiated by the Council members were also discussed. The Board invited comments from the public. |
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