Press

NAFCU statement on CFPB Payday Lending announcement

WASHINGTON, DC (March 26, 2015) — National Association of Federal Credit Unions (NAFCU) Senior Vice President of Government Affairs and General Counsel Carrie Hunt issued the following statement today in response to the Consumer Financial Protection Bureau (CFPB) announcement on Payday Lending.

“NAFCU and our members strongly support responsible short-term and long-term lending. We appreciate the CFPB looking at the practices of actors in the marketplace that could harm consumers,” said Hunt. “As with any rulemaking NAFCU wants to ensure that there are no unintended consequences for credit unions. At first blush, the CFPB’s announcement could touch upon many areas of lending and NAFCU will closely review the CFPB’s potential rulemaking ideas to avoid those unintended consequences.”

The National Association of Federal Credit Unions is the only national trade association that exclusively represents the interests of federally chartered credit unions before the federal government and the public.

 

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