Consumer testing is used to supplement our other means for gathering input from consumers, the financial-services industry, and the general public on pending rules and other consumer-related policies. For example, the Federal Reserve's Consumer Advisory Council, a 30-member body representing consumer and community organizations, the financial industry, academics, and state agencies, provides invaluable perspectives on policy matters pertaining to our consumer protection responsibilities.
We also actively consider the views of the broad range of consumer and community organizations and financial services industry representatives we meet with or otherwise hear from to inform our views on consumer policies. Pilot review of targeted nonbank mortgage subsidiaries The recent problems in the subprime mortgage market revealed gaps in supervision and enforcement with respect to nonbank mortgage lenders.