By Randy Smith, Publisher/Managing Editor CUinsight.com
Elizabeth Warren, Consumer Financial Protection Bureau (CFPB), told the attendees of CUNA’s Governmental Affairs Conference that she wants to build an agency that works for the middle class, families, communities, and the economy. Warren praised credit unions, including her personal CU, and stated the bureau will be a strong ally of credit union for championing the interests of members and wants that to continue.
Warren stated the largest initiative on the CFPB will be providing oversight to the over 80,000 nonbank financial lenders. She also discussed the new office for small financial institutions, stating credit unions will have the ability to have open dialogue and not be surprised by CFPB rulings.
More information can be found on the Consumer Financial Protection Bureau’s new website.
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