Austin Capital Bank CEO to Serve Second Term on CFPB Community Bank Advisory Council
Austin, TX (Oct. 3, 2019) – For the second consecutive year, the director of the Consumer Financial Protection Bureau has appointed Erik Beguin, Austin Capital Bank founder and CEO, to serve as one of eight committee members to its Community Bank Advisory Council (CBAC).
Beguin and other committee members will advise the CFPB leadership on a broad range of consumer financial issues and emerging market trends related to community banks. Last year, Beguin was named to the banking advisory committee by then-acting director Mick Mulvaney. This year’s director, Kathleen L. Kraninger, made the committee announcement today in Washington.
“The Bureau is able to protect consumers in the financial marketplace better when it receives input from a wide range of experts and stakeholders,” said CFPB Director Kraninger. “With the enhancements we made earlier this year to the structure of the advisory committee program, I am confident that these groups will be able to hit the ground running in their efforts to provide meaningful feedback on Bureau policy and regulations. I look forward to working with them.”
“It is truly an honor to have once again been selected as a member of the CFPB’s advisory committee so that community banks across the country will have their voices heard. I look forward to continuing to provide essential insights on the effectiveness of rules and regulations put in place by the bureau. Working with my committee colleagues on this important work is a tremendous and valuable opportunity,” said Beguin.
About the Consumer Financial Protection Bureau (CFPB)
The Consumer Financial Protection Bureau (CFPB) is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives. For more information, visit www.consumerfinance.gov.
About Austin Capital Bank
Austin Capital Bank is a 5-Star rated, FDIC-insured, independent community bank located in Austin, Texas. Austin Capital Bank is consistently recognized as a top performing financial institution and has been ranked on consecutive INC. 5000 lists since 2016. Austin Capital Bank is unique among community banks in that it defines ‘community’ as a common set of needs and values vs the traditional geographic focus of community banks. Austin Capital Bank offers proprietary branded digital banking services nationwide enabled by its own custom-built banking-as-a-service platform and digital banking products group.