CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Jobs
  • Contact

News

Home » CUNA Letter to the House Financial Services Committee Ahead of CFPB Hearing
Press

CUNA Letter to the House Financial Services Committee Ahead of CFPB Hearing

April 10, 2018

FOR IMMEDIATE RELEASE    

CONTACT: Lauren Williams – CUNA Communications; (202) 626-7642; lwilliams@cuna.coop     

Washington, D.C. (April 9, 2018) – This afternoon Credit Union National Association sent this letter to the House Financial Services Committee prior to Director Mulvaney’s testimony for the hearing entitled, “The 2018 Semi-Annual Report of the Bureau of Consumer Financial Protection.” 

As member-centric financial cooperatives, credit unions acknowledged that consumers may need additional consumer protection targeted toward Wall Street banks and abusers of consumers. However, the direct impact of CFPB rules, like the remittance rule and various mortgage rules, have driven credit unions to leave markets or reduce their offerings.

This letter from CUNA goes in greater detail regarding how past actions by the CFPB have harmed credit unions’ ability to serve their members, the immediate steps the Bureau should take under its present structure to reset its focus on abusers of consumers, and the statutory reforms necessary to ensure that consumers are well protected in the financial marketplace.

The following key points are addressed:

  • Past CFPB Actions Have Harmed Credit Unions’ Ability to Serve their Members
  • Credit Unions’ Vision for the CFPB under New Leadership
  • CUNA Continues to Support a Commission, Rather than a Single Director Structure for CFPB Leadership

###     

About CUNA:       

Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 110 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org  

Credit Union Magazine: Winter 2022

Winter 2022

Credit Union Magazine’s Winter 2022 issue highlights data-driven marketing, the board’s role in cybersecurity, elder abuse scams, credit unions’ auto lending advantage, and more.
Digital Edition •  Subscribe

Trending

  • Reps introduce bipartisan Credit Union Board Modernization Act

  • CDFI Fund announces CUNA-sought delay to consider application changes

  • CUNA makes recommendations for CFPB personal data rights rulemaking

Tweets by CUNA_News

Polls

How do you feel about the economy in 2023?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2023 Credit Union National Association | ADA Compliance Notice & Legal
Email Us