FOR IMMEDIATE RELEASE       

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

 Washington, D.C. (November 27, 2018) – This week the Senate Banking committee is expected to vote on Kathleen Kraninger to become the permanent director of the Bureau of Consumer Financial Protection (BCFP or Bureau). Credit Union National Association (CUNA) sent a letter to Majority Leader McConnell and Democratic Leader Schumer urging the Senate to give her nomination full and fair consideration.  

America’s credit unions thank Acting Director Mick Mulvaney for introducing initiatives to reform the Bureau’s approach toward regulated entities and welcome the nomination of a permanent Director to the Bureau as stability of leadership is a critical feature to a successful regulatory body.  

“Credit unions look forward to working with a new, permanent BCFP Director, one that we hope will recognize the unique structure of credit unions and the enormous benefit credit unions provide to American consumers in need of financial services,” the letter reads.  

While CUNA views the nomination process as a positive development, the trade association continues to advocate for legislation that provides for a multi-person, bipartisan commission to lead the Bureau, as was originally proposed by the Obama administration in 2009. 

Read the full letter here.  

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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.