CUNA to Highlight CFPB Impact on CUs, Members for Hearing

WASHINGTON – CUNA will show the House Financial Services oversight and investigations subcommittee how the Consumer Financial Protection Bureau’s (CFPB) structure impacts credit unions and their members. The subcommittee is conducting a hearing Tuesday at 10 a.m. examining the bureau’s structure.

“Our letter will focus on the bureau structure and its impact on credit unions and their members,” said Ryan Donovan, CUNA chief advocacy officer. “We’ll be using it as an opportunity to again urge Congress to enact a common-sense regulatory relief agenda that involves changes to the structure of the CFPB.”

CUNA is also engaged with several other hearings this week, including:

  • Tuesday, 2 p.m., House Financial Services subcommittee on financial institutions and consumer credit rescheduled hearing titled “Ending the Do Novo Drought: Examining the Application Process for Do Novo Financial Institutions;”
  • Wednesday, 10 a.m., House Homeland Security Committee hearing titled “A Borderless Battle: Defending Against Cyber Threats;”
  • Wednesday, 10 a.m., Senate Commerce Committee hearing titled “The Promises and Perils of Emerging Technologies for Cybersecurity;”
  • Wednesday, 2 p.m., rescheduled House Financial Services subcommittee on capital markets, securities and investments hearing titled “The JOBS Act at Five: Examining Its Impact and Ensuring the Competitiveness of the U.S. Capital Markets;” and
  • Thursday, 9 a.m., House Judiciary Committee hearing on the Financial Bankruptcy Act of 2017.
in Industry News