The Federal Reserve Board announced this week that it is accepting statements of interest from people who would like to be considered for membership on the Community Advisory Council (CAC).

The Fed announced in January that it was forming the council, which is intended to complement two of its other advisory councils, the Federal Advisory Council and the Community Depository Institutions Advisory Council. The CAC will advise the Federal Reserve Board on issues affecting consumers and communities.

The board plans to fill 15 seats on the newly formed council and hopes to represent interests including affordable housing, community and economic development, small business and asset and wealth building. The CAC will meet semiannually with members of the Board of Governors in Washington, D.C. to provide a range of 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 consumers and communities.

The board expects to announce the appointment of CAC members in the fall of 2015. Additional information about the selection process, including instructions for submitting a Statement of Interest, can be found here.