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Press Release

Federal Reserve Press Release

Release Date: June 3, 2011

For immediate release

The Federal Reserve Board announced Friday that the Consumer Advisory Council will hold its next meeting on Thursday, June 16. The meeting will take place in Dining Room E, Terrace Level, in the Board's Martin Building. The session will begin at 9:00 a.m. and is open to the public. For security purposes, anyone planning to attend the meeting should register no later than Tuesday, June 14, by completing the form found online at: https://www.federalreserve.gov/secure/forms/cacregistration.aspx. Attendees must present photo identification to enter the building and should allow sufficient time for security processing.

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 will discuss the following topics:

  • National mortgage servicing standards
  • Real estate owned (REO) issues
  • Proposed rules regarding ability to pay for mortgage loans
  • Risk retention proposal and "qualified residential mortgages"
  • Proposed rules regarding remittance transfers

Reports by committees and other matters initiated by Council members may also be discussed.  The Board invites comments from the public on any of these matters.

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Last update: June 3, 2011