Consider CU Burden: CUNA to CFPB Nominee

Exceprt from Credit Union National Association (CUNA) News Now

August 16, 2011

“As Richard Cordray prepares for his Sept. 6 nomination hearing before the Senate Banking Committee, Credit Union National Association (CUNA) President/CEO Bill Cheney urged the candidate for Consumer Financial Protection Bureau (CFPB) director to ‘consider ways in which the Bureau can help minimize regulatory requirements for credit unions and other financial institutions.’

Cordray, who has been serving as the CFPB’s assistant director for enforcement and has also served as the attorney general of Ohio and that state’s treasurer, was announced as President Barack Obama’s nominee for CFPB director last month. Ohio Credit Union League representatives told News Now that the league worked closely with Cordray at the county and state levels as he developed a financial literacy campaign and encouraged younger Ohioans to plan for their financial futures through the “small savers” campaign.” (continued…)

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