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NAFCU statement on CFPB’s debt collection proposal

The National Association of Federally-Insured Credit Unions’ (NAFCU) Director of Regulatory Affairs Ann Kossachev issued the following statement after the Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking on third-party debt collection:

“We appreciate the Bureau working to ensure consumers are provided with clear, upfront disclosures on the terms, conditions and obligations of their loans,” said NAFCU Director of Regulatory Affairs Ann Kossachev. “However, NAFCU will carefully review the proposal to gauge any impact on our members, in particular where credit unions may work with third parties.”

NAFCU

We provide credit unions with the best federal advocacy, education and compliance assistance in the industry. The National Association of Federally-Insured Credit Unions (NAFCU) is a direct membership association for federally insured credit unions. We are committed to representing, assisting, educating and informing our member credit unions to help them grow, and help grow the credit union industry. Over the years we have been able to build on our foundation, growing stronger with our members and steadfast in our beliefs and focus: providing unwavering federal advocacy, top-rated education, one-of-a-kind compliance assistance and supreme responsiveness. Why? Because we believe credit unions are the best and they deserve the best.  

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