The Federal Reserve Board is accepting applications from individuals who want to serve on the Community Advisory Council (CAC). The CAC advises the Board on issues affecting consumers and communities, with a particular focus on the concerns of low- and moderate-income consumers and communities. The CAC complements two of the Board's other advisory councils—the Community Depository Institutions Advisory Council and the Federal Advisory Council—whose members represent depository institutions.

The CAC serves as a mechanism to gather feedback and perspectives on a wide range of policy matters and emerging issues of interest to the Board of Governors and aligns with the Federal Reserve's mission and current responsibilities. These responsibilities include, but are not limited to, banking supervision and regulatory compliance (including the enforcement of consumer protection laws), systemic risk oversight and monetary policy decision making, and, in conjunction with the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation, responsibility for implementation of the Community Reinvestment Act.