CUNA staff attended Thursday’s meeting of the Bureau of Consumer Financial Protection’s Credit Union Advisory Council (CUAC). The bureau recently restructured the CUAC and named seven CUNA members to serve on the council for one-year terms.
Thursday’s meeting featured discussions between the council and bureau leadership and staff regarding policy issues related to financial technology. The day’s meeting was part of the bureau’s first joint gathering of the bureau’s three councils, which in addition to CUAC included the Consumer Advisory Board and Community Bank Advisory Council.
The meeting also included a discussion on the bureau’s proposed policy to encourage trial disclosure programs. CUNA wrote to the bureau earlier this month requesting the comment deadline for the proposal be extended.
The CUAC advises the bureau on the credit union industry. CUNA strongly supports the existence of the CUAC, and has supported legislation that would codify it.