CUNA talks reg relief with CFPB’s Mulvaney

February 15, 2018

Key CUNA staff met with Acting Consumer Financial Protection Bureau (CFPB) Director Mick Mulvaney Thursday to discuss ways to provide credit unions with regulatory relief. Ryan Donovan,CUNA Chief Advocacy Officer, and Leah Dempsey, Senior Director of Advocacy and Counsel, were joined by leaders of various financial services trade associations.

Mulvaney released an outline earlier this month on how the bureau will function under his leadership, and his priorities aligned with those of CUNA’s.

CUNA has several advocacy goals for its work with the CFPB in 2018, including:

  • Fixing burdensome rules and slowing the pace of new rules;
  • Urging the CFPB to transfer supervisory authority of very large credit unions back to NCUA;
  • Retaining the bureau’s Credit Union Advisory Council; and
  • Encouraging the CFPB to make broader and deeper use of the its existing exemption authority.