Removing Barriers Blog

California Credit Union Leaders Meet with Director Kraninger
Posted May 02, 2019 by CUNA Advocacy

Earlier this week, credit union leaders from California and Nevada met with CFPB Director Kathy Kraninger in Los Angeles, CA.

Specific issues discussed include the need for strong Property Assessed Clean Energy (PACE) loan regulations, reconsideration of the CFPB’s Remittance rule coverage and safe harbor threshold, payday lending exemptions and the need for the CFPB to define “abusive” under Unfair, Deceptive or Abusive Acts or Practices (UDAAP). 

It was clear the Director has heard loud and clear the need for tailored regulations, and she said she is “open to looking for exemption opportunities.”

The League valued this opportunity to meet with Director Kraninger for the second time and found that the Director was open and attentive to credit union issues.

Credit unions represented include:

  • California CU, Glendale;
  • Educational Employees CU, Fresno;
  • Farmers Insurance Group FCU, Los Angeles;
  • The Golden 1 CU, Sacramento;
  • LBS Financial CU, Westminster;
  • Patelco CU, Pleasanton;
  • SAG-AFTRA FCU, Burbank;
  • SchoolsFirst FCU, Santa Ana;
  • SESLOC FCU, San Luis Obispo;
  • Southland CU, Los Alamitos;
  • Water and Power Community CU, Los Angeles; and
  • Weststar CU, Las Vegas, Nev.