The ""Federal Reserve"":http://www.federalreserve.gov announced Monday that it has named 10 new members to its Consumer Advisory Council and designated a new chair and vice chair for 2011. The council advises the Federal Reserve board on the exercise of its responsibilities under the Consumer Credit Protection Act and on other matters in the area of consumer financial services.
[IMAGE]Jim Park was selected as chair of the Consumer Advisory Council. Park is the CEO of ""New Vista Asset Management"":http://www.newvistareo.com in San Diego, California, which provides community-focused REO disposition services and works to turn foreclosures into affordable housing options for minority and low- and moderate-income families.
Mary Tingerthal was designated vice chair of the council. Tingerthal is the president of Capital Markets Companies
[COLUMN_BREAK]for the ""Housing Partnership Network"":http://www.housingpartnership.net/ (HPN) in St. Paul, Minnesota. HPN is a business collaborative of nonprofit organizations that build and finance affordable housing and provide economic development opportunities for lower-income and working families.
The ""newly appointed council members"":http://www.federalreserve.gov/newsevents/press/other/20110110b.htm include: Nancy Andrews, president and CEO of the ""Low Income Investment Fund"":http://www.liifund.org/; Barrett Burns, president and CEO of ""VantageScore Solutions LLC"":http://www.vantagescore.com/; Susan Ehrlich, president of ""Sears Financial Services"":http://www.sears.com; Josh Fuhrman, SVP of programs and policy at the nonprofit ""Homeownership Preservation Foundation"":http://www.995hope.org/; and James Gutierrez, CEO of ""Progreso Financiero"":http://www.progressfin.com/en/.
Also among the new council members for 2011 are: Clinton Gwin, president of ""Pathway Lending"":http://www.pathwaylending.org/, formerly Southeast Community Capital; Mike Long, EVP and chief credit officer of ""UW Credit Union"":http://www.uwcu.org/; Rashmi Rangan, executive director of the ""Delaware Community Reinvestment Action Council"":http://www.dcrac.org/; Kevin Stein, associate director of the ""California Reinvestment Coalition"":http://www.calreinvest.org/; and Jonathan Zinman, associate professor of economics at ""Dartmouth College"":http://www.dartmouth.edu/~jzinman/.
The Federal Reserve explained that the Consumer Advisory Council will hold its regular meetings in Washington, D.C., until certain consumer protection functions are transferred from the Fed board to the new Consumer Financial Protection Bureau, as outlined by the Dodd-Frank Act. At that time, the Fed's Consumer Advisory Council will be dissolved.