CUNA strongly urges credit union stakeholders to share stories of the impacts of regulatory burden with the Bureau of Consumer Financial Protection before the June 19 comment deadline. CUNA has launched a webpage with resources and other information for commenters.
“In order to consider amending its rules, the bureau needs to hear from the folks who deal with these rules every day, who know exactly what needs changes, and how changes could benefit consumers,” said CUNA Chief Advocacy Officer Ryan Donovan. “This is a chance for credit unions to directly contact the bureau with comments highlighting how regulatory burdens have impeded your ability to serve members, and how exemption from specific regulatory requirements would remove these barriers.”
The bureau issued a set of requests for information on how it performs its functions, including ones on regulations adopted by the bureau, and the bureau’s new rulemaking authority.
Stakeholders can also use CUNA’s Grassroots Action Center to submit comments by June 19.