In response to a request for information on the efficiency and effectiveness of CFPB data collection processes, Credit Union National Association expressed multiple concerns in a Dec. 27 letter to the agency.
“Although the Bureau’s authority to collect certain data is clear, CUNA still has concerns regarding the Bureau’s data collection, retention, and dissemination policies as well as the resulting obligations and burdens that may fall on credit unions and others involved in data exchange and management efforts,” the letter reads.
The letter outlined four main recommendations regarding collection and use of data:
Sign up to the receive the weekly Leaguer email. Existing subscribers can manage their subscription.
Have a story you'd like to see in the Leaguer? Be sure to share it with us.
Now available on Spotify and Apple Podcasts.