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WORLD BANK: (International Bank for Reconstruction and Development) An agency of the United Nations that was established in 1945 to promote the economic development of the poorer nations in the world. They pursue this goal by providing low-interest loans to less development countries and offering technical assistance on the best ways to use these loans. Funds for the loans are obtained by the World Bank by selling bonds on the world's financial markets. It's long-run economic development orientation is usually coordinated with the shorter-run efforts of its sister U. N. agency, the International Monetary Fund.
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                           CONSUMER ADVISORY COUNCIL: A support committee of the Federal Reserve System that provides advice and input to the Federal Reserve Board of Governors on matters dealing with consumer credit. The Federal Advisory Council (FAC) is comprised of 30 members, representing a broad spectrum of consumer related interests. The CAC is one of three Federal Reserve Board advisory committees. The other two are Federal Advisory Council and Thrift Institutions Advisory Council. The Consumer Advisory Council (CAC) is an advisory support committee to the Board of Governors of the Federal Reserve System. It has no policy making authority but serves to provide feedback and advice on issues relevant to the Fed's oversight of consumer credit protection. The CAC was established in 1976 and contains members who represent consumers and financial groups, including both academicians and legal specialists with knowledge of consumer affairs. Members serve staggered 3 year terms. The council meets with the Federal Reserve Board three times a year.The Consumer Advisory Council is designed to provide the Federal Reserve Board with advice and feedback on its role as a consumer credit regulator. Among its assorted duties, the Federal Reserve Board oversees the administration of several key consumer credit regulations set forth in the Truth in Lending Act, the Equal Credit Opportunity Act, the Home Mortgage Disclosure Act, and the Truth in Savings Act. The CAC provides the Board with its studied opinion on consumer credit policies and regulations. Two additional advisory councils provide the Federal Reserve Board with advice and feedback on Federal Reserve activity--Federal Advisory Council and Thrift Institutions Advisory Council. - Federal Advisory Council: This council is comprised of 12 members, one from each of the 12 Federal Reserve Districts. A council member, typically a commercial bank president operating in the district, is appointed by the Federal Reserve District Bank and serves three one-year terms. The Federal Advisory Council (FAC) meets with the Federal Reserve Board at least four times a year, generally the first Friday in February, May, September, and December, to discuss any and all issues relevant to the Federal Reserve System.
- Thrift Institutions Advisory Council: This advisory council was established in 1980 when the Federal Reserve System extended regulatory oversight to thrift institutions (savings and loan associations, credit unions, and mutual savings banks). The Thrift Institutions Advisory Council (TIAC) contains 12 members, each serving for 2 years, who represent the interests of savings and loan associations, credit unions, and mutual savings banks. The council meets with the Federal Reserve Board 3 times a year to discuss the special needs and concerns of thrift institutions.
 Recommended Citation:CONSUMER ADVISORY COUNCIL, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: December 1, 2023]. Check Out These Related Terms... | | | | | | | | | | | | | | | Or For A Little Background... | | | | | | | | | | And For Further Study... | | | | | | | | | | | | | Related Websites (Will Open in New Window)... | |
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BLUE PLACIDOLA [What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store seeking to buy either a how-to book on home decorating or a set of luggage with wheels. Be on the lookout for fairy dust that tastes like salt. Your Complete Scope
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"Sometimes our light goes out, but is blown into flame by another human being. Each of us owes deepest thanks to those who have rekindled this light. " -- Albert Schweitzer, missionary physician
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NE Nash Equilibrium
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