Following the news that Richard Cordray, Director of the Consumer Financial Protection Bureau, will step down from the Bureau by the end of the month, Credit Union National Association president and CEO Jim Nussle issued a statement:
"We greatly appreciate that throughout his time as Director, Richard Cordray on multiple occasions publicly recognized the exceptional work of credit unions in protecting consumers. CUNA looks forward to a new era at the CFPB that will hopefully reconcile this recognition that credit unions are the pro-consumer protection financial institutions, with rules that reflect that sentiment. Moving forward, CUNA urges the CFPB’s new leadership to address the problems that pending and final rules have caused credit unions and their 110 million members, and move towards a new approach that recognizes the exceptional consumer protections credit unions provide, while continuing to address abusers of consumers."