CUNA President/CEO Jim Nussle spoke with Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger Tuesday on credit union issues relating to the coronavirus (COVID-19) outbreak. The conversation follows up CUNA’s letter to the CFPB last week on finalizing its Remittance Rule and CUNA’s letter to the White House that included CFPB-related suggestions to help credit unions increase member service.
“I thank CFPB Director Kraninger for her time today during what is an obviously stressful time for our country’s financial system,” Nussle said. “I reiterated America’s credit unions’ steadfast commitment to seeing our members through this crisis and outlined several suggestions from CUNA and Leagues that would help ease the burdens on credit unions while allowing them additional flexibility to meet member needs that might arise as the pandemic continues.”
CUNA’s letter to the administration suggests the CFPB: