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News Now

Washington
CU reps among CFPB Consumer Advisory Board members
WASHINGTON (9/13/12)--Two credit union representatives are among the 25 consumer experts from outside the federal government that the Consumer Financial Protection Bureau (CFPB) has appointed to form its new Consumer Advisory Board (CAB), which will provide advice to CFPB leadership on a consumer financial issues and emerging market trends.

In a Wednesday CFPB announcement, Bill Bynum, CEO of Hope Enterprise Corp. and Hope Community CU, Jackson, Miss., was named vice president of the CAB. Laura Castro de Cortes, vice president of alternative financial services for Centris FCU, Omaha, Neb., was also named as a member.

The Credit Union National Association is working with the leagues to reach out to the credit union officials who were chosen, and will report to credit unions on how the CAB and the CFPB's Credit Union Advisory Council will operate.

The CAB is comprised of 25 members with expertise in consumer protection, financial services, community development, fair lending, civil rights, and consumer financial products or services. The CFPB said members also represent depository institutions that primarily serve underserved communities, and communities that have been significantly impacted by higher-priced mortgage loans.

CAB members will serve staggered three-year terms.

The first meeting of the CAB is scheduled to take place on Sept. 27 and 28 in St. Louis, Mo., and the panel is scheduled to meet at least twice a year. The panel will discuss, advise and consult with the bureau of emerging consumer financial issues.

The CFPB also announced the names of the 15 members of its new Credit Union Advisory Council. They are:

  • Bernard Balsis, IEG FCU, Hawaii;
  • Rose Bartolomucci, Towpath CU, Ohio;
  • Gary Bell, Cooperative FCU, California;
  • John Buckley, Gerber FCU, Michigan;
  • Carla Decker, District Government Employees FCU, Washington, D.C.;
  • Ron Ehrenreich, Syracuse Cooperative FCU, New York;
  • Kevin Foster-Keddie, Washington State Employees CU, Washington;
  • Mitchell Klein, Police and Firemen FCU, Pennsylvania;
  • Lily Lo, Northeast Community FCU, California;
  • Maria Martinez, Border FCU, Texas;
  • Marcus Schaefer, Truliant FCU, North Carolina;
  • Camille Shillenn, Unified People's CU, Wyoming;
  • Helen Godfrey Smith, Shreveport FCU, Louisiana;
  • Gregg Stockdale, 1st Valley CU, California; and
  • David Wright, Services Center FCU, South Dakota.
The bureau also released the names of its Community Bank Advisory Council on Wednesday.


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