FOR IMMEDIATE RELEASE
Contact: Vicki Christner – CUNA Communications; 202-508-6754; firstname.lastname@example.org
Washington, D.C. (September 18, 2015) – The Consumer Financial Protection Bureau (CFPB) announced the appointment of eight new credit union representatives, including six CUNA members, for its important Credit Union Advisory Council. CUNA made its recommendations to the bureau in February for the Credit Union Advisory Council, which advises the bureau on regulating financial products and services, and how it will affect credit unions.
“During this time when credit unions are facing an unprecedented number of regulatory burdens, better informed policymaking is essential for their livelihood,” said Ryan Donovan, CUNA’s Chief Advocacy Officer. “Those serving on the Credit Union Advisory Council will play no small part in that. CUNA appreciates that the CFPB considered input from CUNA when selecting the Credit Union Advisory Council members, and we are thankful to our members who are willing to share their experience, knowledge and expertise on issues relating to consumer protection, financial institution operations, financial regulations and public policy concerns.”
CUNA congratulates its members that were selected for the Credit Union Advisory Council:
CUNA also congratulates the following credit union leaders who were selected:
“The input provided by the Credit Union Advisory Council in the past has proven to be influential in refocusing CFPB policymaking to better reflect the unique structure, products and service offerings of credit unions,” said Donovan. “The work of the Credit Union Advisory Council has also improved the outcome of rulemakings for credit union members, and preserved their access to credit and products and services that they want and need.”
New members to the Credit Union Advisory Council will serve two-year terms. CUNA supports legislation that would codify the Credit Union Advisory Council and the CFPB’s Small Business Advisory Board, which are currently established on a voluntary basis. The bill, The Bureau of Consumer Financial Protection Advisory Board Act (H.R. 1195) passed the U.S. House in April.
With its network of affiliated state credit union leagues, Credit Union National Association (CUNA) serves America's credit unions, which are owned by more than 100 million consumer members. Credit unions are not-for-profit cooperatives providing affordable financial services to people from all walks of life. For more information about CUNA, visit www.cuna.org or follow @CUNA on Twitter. For more information about credit unions, visit www.aSmarterChoice.org and follow @asmarterchoice on Twitter. Visit the CUNA Press Room for a full listing of media mentions, press releases and resources to stay informed on current events within the credit union industry.