Removing Barriers Blog

Nussle and CUNA Staff Meet with CFPB Director Cordray
Posted May 19, 2016 by CUNA Advocacy

This week, CEO Jim Nussle and CFPB Director Cordray held a meeting, along with CUNA staff Bill Hampel, Ryan Donovan, and Elizabeth Eurgubian.

During this meeting, we presented the results of our comprehensive Regulatory Burden Study and discussed the impact increasing regulations are having on credit unions. In addition, Jim thanked Director Cordray for listening to credit union concerns and providing a broader exemption for smaller creditors in the qualified mortgage and escrow mortgage rules. Jim and Director Cordray discussed details on how credit unions are experiencing regulatory burden and how the CFPB can address this reality in its rulemakings.

We also presented Director Cordray with a book of all the comment letters we have submitted to the Bureau in the past three years, and another binder of the hundreds of pages of compliance materials we have prepared for our members on the Know-Before-You-Owe mortgage rules.