The Bureau of Consumer Financial Protection announced new members for its reconstituted Credit Union Advisory Council (CUAC) Friday. All seven of the selected CUAC members are currently CUNA member credit unions.
“We are pleased to see the Bureau’s selections and look forward to working with the Bureau and the CUAC on important credit union issues,” said CUNA President/CEO Jim Nussle. “CUNA has long supported the CUAC and the counseling authority it provides on credit union issues.”
In June, Acting Director Mick Mulvaney signed a new charter for the CUAC, which reduced the number of members and directed the council to meet at least once per year in Washington, D.C. The council members will serve one-year terms.
The selected members of CUAC and of CUNA include:
CUNA repeatedly called on the Bureau to preserve the CUAC in meetings with Mulvaney and in its comprehensive white paper sent to the Bureau.
“We thank Acting Director Mulvaney for listening to our recommendation. The Credit Union Advisory Council is a crucial educational resource for the bureau, providing a unique perspective on the impact regulatory burden has on community-based financial institutions,” said CUNA Chief Advocacy Officer Ryan Donovan. “Continued bureau engagement with credit unions is essential, particularly as the bureau prepares for new leadership, and the Credit Union Advisory Council is a major component of that engagement.”