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124 STAT. 1974 PUBLIC LAW 111–203—JULY 21, 2010

SEC. 1014. CONSUMER ADVISORY BOARD.
(a) ESTABLISHMENT REQUIRED.—The Director shall establish
a Consumer Advisory Board to advise and consult with the Bureau
in the exercise of its functions under the Federal consumer financial
laws, and to provide information on emerging practices in the
consumer financial products or services industry, including regional
trends, concerns, and other relevant information.
(b) MEMBERSHIP.—In appointing the members of the Consumer
Advisory Board, the Director shall seek to assemble experts in
consumer protection, financial services, community development,
fair lending and civil rights, and consumer financial products or
services and representatives of depository institutions that pri-
marily serve underserved communities, and representatives of
communities that have been significantly impacted by higher-priced
mortgage loans, and seek representation of the interests of covered
persons and consumers, without regard to party affiliation. Not
fewer than 6 members shall be appointed upon the recommendation
of the regional Federal Reserve Bank Presidents, on a rotating
basis.
(c) MEETINGS.—The Consumer Advisory Board shall meet from
time to time at the call of the Director, but, at a minimum, shall
meet at least twice in each year.
(d) COMPENSATION AND TRAVEL EXPENSES.—Members of the
Consumer Advisory Board who are not full-time employees of the
United States shall—
(1) be entitled to receive compensation at a rate fixed
by the Director while attending meetings of the Consumer
Advisory Board, including travel time; and
(2) be allowed travel expenses, including transportation
and subsistence, while away from their homes or regular places
of business.

12 USC 5495. SEC. 1015. COORDINATION.
The Bureau shall coordinate with the Commission, the Com-
modity Futures Trading Commission, the Federal Trade Commis-
sion, and other Federal agencies and State regulators, as appro-
priate, to promote consistent regulatory treatment of consumer
financial and investment products and services.

12 USC 5496. SEC. 1016. APPEARANCES BEFORE AND REPORTS TO CONGRESS.
(a) APPEARANCES BEFORE CONGRESS.—The Director of the
Bureau shall appear before the Committee on Banking, Housing,
and Urban Affairs of the Senate and the Committee on Financial
Services and the Committee on Energy and Commerce of the House
of Representatives at semi-annual hearings regarding the reports
required under subsection (b).
(b) REPORTS REQUIRED.—The Bureau shall, concurrent with
each semi-annual hearing referred to in subsection (a), prepare
and submit to the President and to the Committee on Banking,
Housing, and Urban Affairs of the Senate and the Committee
on Financial Services and the Committee on Energy and Commerce
of the House of Representatives, a report, beginning with the session
following the designated transfer date. The Bureau may also submit
such report to the Committee on Commerce, Science, and Transpor-

LAWS tation of the Senate. (c) CONTENTS.—The reports required by subsection (b) shall include—PUBLIC with on anorris VerDate Nov 24 2008 03:41 Aug 28, 2010 Jkt 089139 PO 00203 Frm 00600 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 GPO1 PsN: PUBL203