On January 15, the CFPB announced that it is accepting applications for membership on its Consumer Advisory Board (Board) and two other advisory groups, the Community Bank Advisory Council, and the Credit Union Advisory Council (collectively, Advisory Councils). The Board and Advisory Councils are intended to give small financial institutions the opportunity to provide the CFPB with information regarding emerging trends and practices in the consumer financial products and services industries. In the fall of 2016, seven seats on the Board will become vacant, and eight seats on each of the Advisory Councils will become vacant. Applications are due February 29, 2016, according to the CFPB’s publication in the Federal Register.