FOR IMMEDIATE RELEASE
February 26, 2019
Credit Union National Association (CUNA) sent a letter for the record to Chairwoman Maxine Waters and Ranking Member Patrick McHenry ahead of the House Financial Services Committee (HFSC) hearing titled, “Who’s Keeping Score? Holding Credit Bureaus Accountable and Repairing a Broken System.”
Credit reporting agencies (CRAs) play a critical role in the financial lives of Americans as the credit scores and reports they generate are influential metrics for many lending decisions. The trade association, which advocates on behalf of America’s 115 million credit union members, supports the intent of the Fair Credit Reporting Act (FCRA) and its importance in ensuring consumers’ financial information is handled and used in an appropriate and responsible manner.
CUNA raised several concerns among their members in regards to CRAs, including:
Read the letter in full here.
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 115 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. To find your nearest credit union, visit YourMoneyFurther.com.