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CFPB Director Cordray Addresses CUs at CUNA GAC, Video
Tuesday, March 1, 2016 6:45 AM

If you weren't able to join your colleagues last week at the Credit Union National Association's premier event, the Governmental Affairs Conference, you missed Consumer Financial Protection Bureau Director Richard Cordray's wake up call to credit unions.

But fear not, CUNA videoed the director's speech and have provided it for your review. Please take some time to watch the entire speech, which is only about 25 minutes, and let us know what you think. 

The director's speech left some people scratching their heads, according to CUNA. So, in a series of Removing Barriers blog posts this week, CUNA will dissect his message. Here is the first post, which focuses on the disagreement between CUNA and the Bureau over exemption authority.

Several years ago, CUNA commissioned a legal opinion by Leonard Chanin, the former assistant director in the Office of Regulations at the CFPB, that outlines the statutory authority and how the CFPB is permitted to use it to exempt entities like credit unions from its rulemakings.