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CFPB Silent On Blanket Exemptions For Credit Unions

Wednesday, March 27, 2013 - 6:20 AM
From the Credit Union Times
Members of the Consumer Financial Protection Bureau’s Credit Union Advisory Council told  Credit Union Times that CFPB officials listen to credit union concerns and seem to understand the unique relationships between credit unions and their members. However, they said, CFPB officials don’t have an answer for why they can’t simply exempt credit unions altogether from some or all regulations.

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We learned in the last two years that credit unions don’t always act in the best interest of their members (two examples are Fort Knox FCU and CEFCU).
Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,077