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News Now

Washington
CUNA To Warn Of Reg Burden At Chicago CFPB Hearing
WASHINGTON (10/1/13)--Credit Union National Association Deputy General Counsel Mary Dunn will again voice the concerns of credit unions impacted by regulatory burdens at a Wednesday Consumer Financial Protection Bureau hearing on credit cards in Chicago.

Dunn plans to meet with CFPB officials following the hearing, and she said she will urge the agency not to contribute further to credit unions' heavy regulatory burdens and instead, to help minimize them.

She will also encourage the agency to exempt credit unions from future regulatory requirements to the greatest extent possible.

"Credit unions simply do not need, and will have increasing difficulties assimilating, additional regulatory burdens if they are to fulfill their purpose of responding to their members' financial needs," she said Monday.

The field hearing is scheduled to begin at 11 a.m. (CDT) on Oct. 2 in the Winter Garden of the Harold Washington Library.  CFPB Director Richard Cordray, consumer groups, industry representatives, and members of the public will also be in attendance. (News Now Sept. 20)

For more on the event, use the resource link.
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CFPB Field Hearing
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