CUNA Letter Supports Senate use of CRA for Auto Lending

April 18, 2018


CONTACT: Lauren Williams – CUNA Communications; (202) 626-7642;           

Washington, DC (April 18, 2018) – CUNA sent this letter in support of S.J. Res. 57, the Congressional Review Act resolution to repeal the Consumer Financial Protection Bureau’s (CFPB) guidance on indirect auto financing. S. J. Res. 57 is a joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the CFPB relating to the "Indirect Auto Lending and Compliance with the Equal Credit Opportunity Act."

“The CFPB fair lending guidance bulletin was unsupported by research or data. Credit unions support the goal of fair lending and strongly oppose any discriminatory policies. However, this guidance bulletin was also not issued through the normal course of the Administrative Procedures Act (APA) or the public rulemaking process,” wrote CUNA President/CEO Jim Nussle. “As such, we support S.J.Res.57. Policymaking in this area should be open to the public input and responsive to those comments.

The CRA has been one tool used to combat the poorly tailored rules that unnecessarily apply to credit unions.

The following key points are addressed in the letter:

  • There Are Many Small Credit Unions Serving Consumers, and They Are Harmed Most by Poorly Tailored Rules and Policymaking
  • CFPB Bulletins Should be Subject to the CRA
  • Credit Unions Support Using the CRA for Indirect Auto Lending Guidance

If passed by the Senate, the joint resolution would go to the House for approval, and if approved there, would go to President Donald Trump for his signature.


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