WASHINGTON, DC (July 21, 2026) |
The Defense Credit Union Council (DCUC) has submitted a letter to the Senate Committee on Banking, Housing, and Urban Affairs ahead of the Committee’s July 23 confirmation hearing for Consumer Financial Protection Bureau (CFPB) Director nominee Brian Johnson. In the letter, DCUC encourages a balanced approach to consumer protection that promotes accountability, regulatory certainty, and appropriately tailored oversight for member owned credit unions.
While welcoming Johnson's extensive background in consumer financial policy, DCUC requested the Committee examine how his leadership would protect consumers while recognizing the unique structure and mission of not-for-profit credit unions.
"Consumer protection and regulatory accountability are not competing priorities, they are complementary ones," says Jason Stverak, DCUC Chief Advocacy Officer. "The next CFPB Director has an opportunity to strengthen public confidence by focusing enforcement on demonstrable consumer harm, promoting clear and consistent regulatory expectations, and ensuring credit unions can continue delivering affordable financial services to the communities that depend on them most, including our nation's servicemembers, veterans, and military families."
In its letter, DCUC outlines several priorities for the Bureau's next leader, including:
- A risk-based supervisory approach focused on demonstrable consumer harm.
- Greater transparency, accountability, and regulatory certainty.
- Tailored oversight recognizing the distinct not-for-profit structure of credit unions.
- Enhanced coordination with the National Credit Union Administration (NCUA) to reduce duplicative examinations.
- Continued investment in the Office of Servicemember Affairs and stronger protections against fraud targeting military consumers.
- Responsible oversight of emerging technologies, artificial intelligence, open banking, and data security while preserving access to affordable credit.
"The CFPB's decisions extend far beyond regulatory compliance," states Anthony Hernandez, DCUC President/CEO, Ret. U.S. Air Force Colonel. "They influence the availability of affordable financial services, the pace of innovation across the financial sector, and the ability of credit unions to continue investing in the financial readiness of military communities. Effective regulation should protect consumers without limiting the institutions that are helping them build long-term financial security."
Defense credit unions serve millions of members worldwide, including active-duty servicemembers, veterans, military families, and civilian communities. DCUC reminds that a transparent, predictable regulatory framework will help preserve consumer choice, foster innovation, and ensure financial institutions remain equipped to meet evolving economic and security challenges.
DCUC also submitted a series of questions for the record encouraging the nominee to address regulatory accountability, military consumer protections, fraud prevention, emerging financial technologies, and collaboration with the credit union industry.