For immediate release

The Federal Reserve Board today announced that it is seeking nominations for thirteen appointments to its Consumer Advisory Council. The Council, which consists of thirty members, advises the Board on the exercise of its responsibilities under the Consumer Credit Protection Act and on other matters on which the Board seeks advice. The group meets in Washington, D.C., three times a year. The thirteen new members will be appointed to serve three-year terms beginning in January 1998. Nominations should include the following information about nominees: past and present positions held; knowledge, interests, or experience related to community reinvestment, consumer credit, or other consumer financial services; and complete address with telephone and fax numbers. Letters of nominations must be received by August 15, 1997, and should be mailed (not faxed) to Dolores S. Smith, Associate Director, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, Washington, D.C. 20551. The Board's notice is attached.

FEDERAL RESERVE SYSTEM Consumer Advisory Council Solicitation of Nominations for Membership AGENCY: Board of Governors of the Federal Reserve System. ACTION: Notice SUMMARY: The Board is inviting the public to nominate qualified individuals for appointment to its Consumer Advisory Council, whose membership represents consumer and community interests and the financial services industry. Thirteen new members will be selected for three-year terms that will begin in January 1998. The Board expects to announce the selection of new members by year-end 1997. DATE: Nominations should be received by August 15, 1997. ADDRESS: Nominations should be submitted in writing and mailed (not by facsimile) to Dolores S. Smith, Associate Director, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, Washington, D.C. 20551. FOR FURTHER INFORMATION CONTACT: Deanna Aday-Keller, Secretary to the Council, Division of Consumer and Community Affairs, (202) 452-6470. For Telecommunications Device for the Deaf (TDD) users only: Diane Jenkins, (202) 452-3544, Board of Governors of the Federal Reserve System, Washington, D.C. 20551. SUPPLEMENTARY INFORMATION: The Consumer Advisory Council was established in 1976 at the direction of the Congress to advise the Federal Reserve Board on the exercise of its duties under the Consumer Credit Protection Act and on other consumer-related matters. The Council by law represents the interests both of consumers and of the financial services industry (15 USC 1691(b)). Under the Rules of Organization and Procedure of the Consumer Advisory Council (12 CFR 267.3), members serve three-year terms that are staggered to provide the Council with continuity. New members will be selected for terms beginning January 1, 1998, to replace members whose terms expire in December 1997; the Board expects to announce its appointment of new members by year-end. Nomination letters should include information about past and present positions held by the nominee; a description of special knowledge, interests or experience related to community reinvestment, consumer credit, or other consumer financial services; and the address and telephone number of both the nominee and the nominator. Individuals may nominate themselves. The Board is interested in candidates who have some familiarity with consumer financial services or community reinvestment and who are willing to express their viewpoints. Candidates do not have to be experts on all levels of consumer financial services or community reinvestment, but they should possess some basic knowledge of the area. They must be able and willing to make the necessary time commitment to prepare for and attend meetings three times a year (usually for two days, including committee meetings). In making the appointments, the Board will seek to complement the background of continuing Council members in terms of affiliation and geographic representation, and to ensure the representation of women and minority groups. The Board may consider prior years' nominees and does not limit consideration to individuals nominated by the public when making its selection. Council members whose terms end as of December 31, 1997, are the following: Julia W. Seward Vice President and Corporate    Community Reinvestment Officer Signet Bank Richmond, Virginia David C. Fynn Regulatory Risk Manager National City Corporation Senior Vice President National City Bank Cleveland, Ohio Thomas R. Butler President and Chief    Operating Officer NOVUS Services, Inc. Riverwoods, Illinois Robert G. Greer Chairman of the Board Bank of Tanglewood Houston, Texas Robert A. Cook Partner Hudson Cook, LLP Crofton, Maryland Kenneth R. Harney Journalist Washington Post Writers Group Chevy Chase, Maryland Emanuel Freeman President Greater Germantown Housing    Development Corporation Philadelphia, Pennsylvania Gail K. Hillebrand Litigation Counsel West Coast Regional Office Consumers Union of U.S., Inc. San Francisco, California Terry Jorde President and CEO Towner County State Bank Cando, North Dakota Lisa Rice Executive Director Fair Housing Center Toledo, Ohio Eugene I. Lehrmann Immediate Past President American Association of Retired Persons Madison, Wisconsin John R. Rines President General Motors Acceptance    Corporation Detroit, Michigan Ronald A. Prill Vice President, Credit Dayton Hudson Corporation Minneapolis, Minnesota Council members whose terms continue through 1998 and 1999 are the following: William N. Lund Director Office of Consumer Credit Regulation State of Maine Augusta, Maine Francine C. Justa Executive Director Neighborhood Housing Services    of New York New York, New York Richard S. Amador President and Chief Executive Officer CHARO Community Development    Corporation Los Angeles, California Janet C. Koehler Senior Manager of Electronic    Commerce AT & T Universal Card Services Jacksonville, Florida Wayne-Kent A. Bradshaw President and Chief Executive Officer Family Savings Bank, FSB Los Angeles, California Errol T. Louis Treasurer, Manager Central Brooklyn Federal    Credit Union Brooklyn, New York Heriberto Flores President and Chief Executive Officer Brightwood Development Corporation Springfield, Massachusetts Paul E. Mullings President and Chief Executive Officer Mortgage Electronic Registration    Systems, Inc. McLean, Virginia Carol Parry Executive Vice President Chase Manhattan Bank New York, New York Yvonne S. Sparks Executive Director Neighborhood Housing Services    of St. Louis, Inc. St. Louis, Missouri Philip Price, Jr. Executive Director The Philadelphia Plan Philadelphia, Pennsylvania Gregory D. Squires Professor Department of Sociology University of Wisconsin-Milwaukee Milwaukee, Wisconsin Marilyn Ross Executive Director Holy Name Housing Corporation Omaha, Nebraska George P. Surgeon Chief Financial Officer and   Executive Vice President Shorebank Corporation Chicago, Illinois Margot Saunders Managing Attorney National Consumer Law Center Washington, D.C. Theodore J. Wysocki, Jr. Executive Director CANDO Chicago, Illinois Gail Small Executive Director Native Action Lame Deer, Montana By the Board of Governors of the Federal Reserve System, June 11, 1997. William W. Wiles, Secretary of the Board.

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