E7-9760. Consumer Advisory Council

ACTION:

Notice of Meeting of the Consumer Advisory Council.

The Consumer Advisory Council will meet on Thursday, June 21, 2007. The meeting, which will be open to public observation, will take place at the Federal Reserve Board's offices in Washington, DC, in Dining Room E on the Terrace Level of the Martin Building. Anyone planning to attend the meeting should, for security purposes, register no later than Tuesday, June 19, by completing the form found online at https://www.federalreserve.gov/​secure/​forms/​cacregistration.cfm.

Additionally, attendees must present photo identification to enter the building.

The meeting will begin at 9 a.m. and is expected to conclude at 1 p.m. The Martin Building is located on C Street, NW., between 20th and 21st Streets.

The Council's function is to advise the Board on the exercise of the Board's 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:

Regulation Z/Truth in Lending Act (TILA)

Members will discuss proposed amendments to Regulation Z, which implements the Truth in Lending Act (TILA). The amendments would revise the disclosure requirements for open-end (revolving) plans that are not home-secured, including credit card accounts.

Home Ownership and Equity Protection Act (HOEPA) hearing

Members will discuss the Board's June 14 public hearing to gather information on how it might use its rulemaking authority under HOEPA to address concerns about abusive lending practices in the home mortgage market.

Reports by committees and other matters initiated by Council members also may be discussed.

Persons wishing to submit views to the Council on any of the above topics may do so by sending written statements to Jennifer Kerslake, Secretary of the Consumer Advisory Council, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, Washington, DC 20551. Information about this meeting may be obtained from Ms. Kerslake, 202-452-6470.

Board of Governors of the Federal Reserve System, May 16, 2007.

Jennifer J. Johnson,

Secretary of the Board.