Advocating for credit unions at CFPB headquarters

The importance of regulation that recognizes credit unions’ unique mission and structure was central to a meeting between America’s Credit Unions, large credit unions, and the CFPB Wednesday at the bureau’s Washington, D.C., headquarters.

The group discussed the CFPB’s approach to rulemaking and supervision, as well as specific credit union concerns regarding fraud, small business lending, and open banking.

The CFPB’s latest rulemaking agenda indicates upcoming activity on unfair, deceptive, or abusive acts and practices (UDAAP), and open banking, among other topics, and America’s Credit Unions will continue to engage the bureau on credit union priorities.