FOR IMMEDIATE RELEASE

Contact: Vicki Christner - CUNA Communications; 202-329-9950; vchristner@cuna.coop

WASHINGTON (July 29, 2016) - Following the announcement of the CFPB's proposed updates to its Know Before You Owe mortgage disclosure rule, Jim Nussle, CUNA president/CEO, released the following statement:

“We've been advocating for many of these proposed changes since January and initially found the CFPB hesitant to make any changes. Today's announcement shows they are listening when CUNA, the leagues and credit unions speak. We thank Director Cordray for proposing these changes that we believe should be, overall, helpful to credits unions by adjusting some of the issues we pointed out with the initial disclosure rule that went into effect last Oct. 3.”

###