Meeting of the Consumer Advisory Council.The Federal Reserve Board Federal Reserve Board (FRB) The seven-member governing body of the Federal Reserve System, which is responsible for setting reserve requirements, and the discount rate, and making other key economic decisions. announced on September 29, 2005, 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, October 27, 2005. The meeting, which was open to public observation, took place at the Federal Reserve Board's offices in Washington, D.C., in Dining Room E, Terrace level in the Board's Martin Building. 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: * Home Mortgage Disclosure Act * Economic Growth and Regulatory Paperwork Reduction Act * Nontraditional Mortgage Loans * Hurricane Katrina |
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