The Federal Reserve System

The Federal Reserve System

Marriner S. Eccles Federal Reserve Board Building, Washington, DC, dc124629
Marriner S. Eccles Federal Reserve Board Building, Washington, DC, dc124629

The Federal Reserve System uses advisory and working committees in carrying out its varied responsibilities. Three of these committees advise the Federal Reserve Board directly: the Federal Advisory Council, the Community Depository Institutions Advisory Council, and the Community Advisory Council. The Federal Advisory Council was established by law, and the Community Depository Institutions Advisory Council and the Community Advisory Council were created by the Federal Reserve Board.

 

 

Community Advisory Council

The Community Advisory Council (CAC) was formed by the Federal Reserve Board in 2015 to offer diverse perspectives on the economic circumstances and financial services needs of consumers and communities, with a particular focus on the concerns of low- and moderate-income populations. The CAC will complement two of the Board’s other advisory councils–the Federal Advisory Council and the Community Depository Institutions Advisory Council–whose members represent depository institutions. The CAC will meet semiannually with members of the Board of Governors in Washington, D.C. Additional information can be found in theFederal Register notice: HTML | PDF

Members

  • Michael Rubinger, Chair
    President and Chief Executive Officer, Local Initiatives Support Corporation (LISC)
    New York, N.Y.
  • Roberto Barragan
    President and Chief Executive Officer, VEDC
    Van Nuys, Calif.
  • Angela Glover Blackwell
    Founder and Chief Executive Officer, PolicyLink
    Oakland, Calif.
  • Patrick Dujakovich
    President, Greater Kansas City AFL-CIO
    Kansas City, Mo.
  • Benjamin Dulchin
    Executive Director, Association for Neighborhood & Housing Development
    New York, N.Y.
  • Brian Fogle
    President and Chief Executive Officer, Community Foundation of the Ozarks
    Springfield, Mo.
  • Ben Mangan
    Executive Director and Lecturer, Haas School of Business, U.C. Berkeley, Center for Social Sector Leadership
    Berkeley, Calif.
  • Rodrick Miller
    President and Chief Executive Officer, Detroit Economic Growth Corporation
    Detroit, Mich.
  • Noel Poyo
    Executive Director, National Association for Latino Community Asset Builders
    San Antonio, Texas
  • Arden Shank
    President and Chief Executive Officer, Neighborhood Housing Services of South Florida
    Miami, Fla.
  • Adrienne Smith
    President and Chief Executive Officer, New Mexico Direct Caregivers Coalition
    Placitas, N.M.
  • Sue Taoka
    Executive Vice President, Craft3
    Seattle, Wash.
  • Mary Tingerthal
    Commissioner, Minnesota Housing Finance Agency
    St. Paul, Minn.
  • Raul Vazquez
    Chief Executive Officer, Oportun
    Redwood City, Calif.
  • Catherine Wilson
    Professor, University of Nebraska-Lincoln College of Law
    Lincoln, Neb.

Federal Reserve Bank Presidents

The Federal Reserve Act provides that the president of a Federal Reserve Bank shall be the chief executive officer of the Bank, appointed by the board of directors of the Bank, with the approval of the Board of Governors of the Federal Reserve System, for a term of five years.

The terms of all the presidents of the twelve District Banks run concurrently, ending on the last day of February of years numbered 6 and 1 (for example, 2001, 2006, and 2011). The appointment of a president who takes office after a term has begun ends upon the completion of that term. A president of a Reserve Bank may be reappointed after serving a full term or an incomplete term.

Reserve Bank presidents are subject to mandatory retirement upon becoming 65 years of age. However, presidents initially appointed after age 55 can, at the option of the board of directors, be permitted to serve until attaining ten years of service in the office or age 75, whichever comes first.

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