Removing Barriers Blog

CFPB Engagement Opportunities for CUs
Posted April 29, 2019 by Chandler Schuette

The CFPB recently announced two opportunities for credit unions to engage with CFPB leadership and staff. Additional information below. 

  • Debt Collection Town Hall in Philadelphia, PA
    The Bureau announced a May 8, 2019, Town Hall in Philadelphia, PA.  The Town Hall will focus on debt collection and feature remarks from Director Kraninger as well as comments from community groups, industry representatives, and members of the public.  
    It is likely, per the CFPB’s past practice of releasing rules during or prior to a scheduled Town Hall, the Bureau will be issuing its anticipated notice of proposed rulemaking (NPRM) on debt collection that same day.  The CFPB Director also highlighted the debt collection rulemaking in a public speech last week and said the NPRM would be released “in the coming week.”

  • CFPB Ombudsman’s Small Business Meeting in Chicago, IL
    The CFPB Ombudsman’s Office announced a small business forum taking place on June 18, 2019, in Chicago, IL.  The Forum is an opportunity for credit unions to share feedback on their interactions with the CFPB and provide recommended solutions. 
    According to the announcement, the Forum will feature a discussion of small business issues, including: “the Small Business Regulatory Enforcement Fairness Act (SBREFA) process, innovation, the CFPB’s small entity compliance guides, the process surrounding Section 1071 of the Dodd-Frank Act, and the engagement of minority and women owned businesses with the CFPB.”
    The Ombudsman's Office provides an independent, impartial, and confidential resource to informally assist individuals, companies, consumer and trade groups, and others in resolving process issues with the CFPB.
    RSVP information is forthcoming, but credit unions interested in attending can contact Alexander Monterrubio, Senior Director of Advocacy & Counsel at amonterubio@cuna.coop