WASHINGTON, DC (April 13, 2016) — National Association of Federal Credit Unions (NAFCU) Vice President of Legislative Affairs Brad Thaler today applauded the House Financial Services Committee’s passage of the NAFCU-backed H.R. 1486, “Taking Account of Bureaucrats’ Spending (TABS) Act of 2016.”
“We thank Representative Andy Barr for his leadership in introducing this measure and the Committee for its support in passing this legislation, which will help bring transparency and accountability to the Consumer Financial Protection Bureau,” said Thaler. “We look forward to continuing to work with Congress to help advance this vital legislation.”
Thaler wrote the committee yesterday, urging passage of this bill. In his letter, he noted, “Subjecting the CFPB to the appropriations process will give Congress much needed oversight by incentivizing the Bureau to focus on true consumer abuse and working to uphold congressional intent, while guaranteeing it considers the burdens it is placing on community institutions and better tailoring its rules for them.”
NAFCU was the only credit union trade association to oppose the CFPB having authority over credit unions.
The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.
