Berger, during call with CFPB’s Kraninger, urges reg relief

NAFCU President and CEO Dan Berger and Executive Vice President of Government Affairs and General Counsel Carrie Hunt spoke with CFPB Director Kathy Kraninger and other bureau senior staff Wednesday to reiterate credit unions’ need for regulatory relief amid the coronavirus. Berger has maintained close communication with regulators and Congress throughout the pandemic to share what credit unions are experiencing and how Washington can help them better serve members in need.

Berger urged the CFPB to hold off on rulemakings during the pandemic and recovery to ensure credit union resources can be fully dedicated to serving members. He previously asked the bureau, and NCUA, to provide broad flexibility with compliance for at least 60 days.

In addition, Berger reiterated NAFCU’s call for the bureau to modernize the electronic disclosure and signature-related provisions of all its regulations. Last month, NAFCU made this request and outlined proposed legislative amendments to the Electronic Signatures in Global and National Commerce Act (E-Sign Act) to provide relief to credit unions and their members amid the coronavirus pandemic.


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