FOR IMMEDIATE RELEASE
CONTACT: Lauren Williams – CUNA Communications; (202) 626-7642; firstname.lastname@example.org
Washington, DC (June 26, 2018) – Credit Union National Association (CUNA) presented evidence to the Bureau of Consumer Financial Protection supporting the idea that credit unions should be exempt from regulations targeted at other industry bad actors. In a copy of its comprehensive white paper, CUNA urges the Bureau to conduct an extensive review of the regulations under its jurisdiction.
“This review should streamline requirements, eliminate outdated or superfluous requirements, and provide exemptions for certain industry stakeholders, such as credit unions and CUSOs, where appropriate,” the white paper reads. “It is critical that the Bureau keep in mind that any change in regulation—even a change intended to reduce regulatory burden—comes with a cost.”
CUNA offers several recommendations to the Bureau to streamline regulations including:
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.