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CUNA Writes Letter to Financial Services Committee regarding CFPB
Wednesday, September 30, 2015 6:40 AM

CUNA is doing their best to advocate nationally for credit unions at the Capitol, but the Consumer Financial Protection Bureau (CFPB) continues to push regulations that have a negative impact on credit unions and their ability to serve their members.

In a recent letter to the U.S. House Financial Services Committee, CUNA notes that credit unions have restricted or have done away with services that they offer to members because of the heavy burden of the constantly changing CFPB rules.

Citing rules such as the international remittance transfer rule, the TRID rule and the Home Mortgage Disclosure Act, the letter states that these regulations have put such limitations on credit unions that they are eliminating services to their members.

The CUNA recommended Congressional actions regarding the CFPB can be found here.

The Financial Services Committee hearing was scheduled for 10 a.m. on September 29.