CFPB alters CUAC charter, extends terms, opens applications

The Consumer Financial Protection Bureau (CFPB) announced Thursday amendments to its advisory committee charters, which include the Credit Union Advisory Council (CUAC). The CFPB also announced it will begin accepting applications for new council members for 45 days beginning with a notice to be published in the Federal Register.

According to the CFPB’s release, the councils will “expand their focus to broad policy matters and increase the frequency of in-person meetings from two times a year to three times a year.”

CUNA strongly supports the CUAC, and has supported legislation to codify its existence. During recent engagement between CFPB Director Kathy Kraninger and stakeholders, CUNA, leagues and credit unions called for the CFPB to preserve the CUAC, and to extend members’ terms in order to provide stability.


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