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News Now

Washington
CUNA nominates 28 for CFPB consumer advisers
WASHINGTON (4/9/12)--The Consumer Financial Protection Bureau (CFPB) is developing a Consumer Advisory Board to help keep the agency abreast of emerging trends and practices in the financial services and products industry, and the Credit Union National Association (CUNA) last week submitted a list of 28 nominees from credit unions across the country.

"All of these individuals have indicated a willingness to serve and to provide the agency with the benefit of their experience, knowledge and expertise on issues relating to consumer protection, financial institution operations, financial regulations and public policy concerns," CUNA President/CEO Bill Cheney said.

Cheney added that the advisory board "has the potential to be extremely important to the agency in its oversight of consumer protection," and added that CUNA strongly supports "balanced membership on the board who will appreciate the need for protections for consumers in the financial marketplace while understanding the need to avoid burdening entities such as credit unions that already work hard to ensure their members are well served."

The work of the agency "will be enhanced if several members of the board are from credit unions or credit union leagues," Cheney added. The CUNA CEO suggested that nominees that are not accepted for the consumer board be considered for the CFPB's planned Credit Union Advisory Council.

Those interested in more information on the CUNA nominees may contact CUNA Senior Vice President and Deputy General Counsel Mary Dunn at mdunn@cuna.coop.


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