CUNA
  • Advocacy
    • Priorities we’re fighting for
    • Actions you can take
  • News
  • Learn
  • Compliance
  • Shop
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • COVID-19
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact
Learn More about Member Value

News

Member Benefits
Learn more
Learn more about the benefits of membership.
Home » CUNA Applauds Sen. Fischer’s CFPB Commission Legislation
Press

CUNA Applauds Sen. Fischer’s CFPB Commission Legislation

June 17, 2020

FOR IMMEDIATE RELEASE   
June 17, 2020
Washington, DC

CONTACT:          
Lauren Williams        
CUNA Communications        
202-672-3396
 

CUNA Applauds Sen. Fischer’s CFPB Commission Legislation

Sen. Deb Fischer (R-Neb.) introduced legislation Thursday that would change the leadership structure at the Consumer Financial Protection Bureau from a single director with a five-person, bipartisan commission.

“Sen. Fischer’s legislation will bring stability and strength to the CFPB by creating a leadership structure that ensures all voices are heard,” said CUNA Chief Advocacy Officer Ryan Donovan. “This legislation is an important step to reestablishing the Bureau as it was initially envisioned—with input from CUNA and the Leagues—back in the original, House-passed version of the Dodd-Frank Act in 2010. We look forward to working with Congress to finding a path forward on this critical legislation.”

A House companion bill was introduced in March by Rep. Blaine Luetkemeyer (R-Mo.).

Fischer’s bill comes as the U.S. Supreme Court is expected to release a decision in Selia Law v. the CFPB, lawsuit challenging the constitutionality of the CFPB being led by a single director removable only by cause.

CUNA filed an amicus brief calling on the U.S. Supreme Court to vacate a title of the Dodd-Frank Act, then delay implementation by a year in order to give Congress time to make the necessary legislative changes. 

##      

 

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 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.

Credit Union Magazine - Winter 2020

Winter 2020

Credit Union Magazine’s Winter 2020 edition features CUNA’s 2021 lending outlook, CEO insights on adjusting to the pandemic, and board recruitment strategies.
Digital Edition •  Subscribe

Trending

  • Compliance: 2020 Year in Review, Checklist now available

  • 5 fraud predictions for 2021

  • CUNA sends recommendations to incoming Biden administration

Tweets by CUNA_News

Polls

Will you ask employees to receive the coronavirus vaccine?

View Results
More

Champion of America’s Credit Unions

Credit Union National Association is the only national association that advocates on behalf of all of America’s credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • About
  • Careers
  • Contact Us
  • Recommended Websites
  • Privacy Policy

Resources for

  • CUNA Board Members
  • Credit Union Advocates
  • Leagues
  • Press
  • Vendors