The Consumer Financial Protection Bureau appoints a new member to the Credit Union Advisory Council
WASHINGTON, D.C. (September 21, 2015) — The Consumer Financial Protection Bureau (CFPB) announces the appointment of Thomas O’Shea, President and CEO of Aspire Federal Credit Union, as a member to the Credit Union Advisory Council (CUAC).
“I’m very excited to have the opportunity to represent credit unions. I want to give our industry direct access to the CFPB, so that we have a voice to impact regulations that affect credit unions and our members,” said O’Shea.
The Consumer Financial Protection Bureau (CFPB) is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives.
The Credit Union Advisory Council (CUAC) advises the CFPB on regulating consumer financial products or services, specifically to share the unique perspectives of credit unions. They share information, analysis, and recommendations to better inform policy development, rulemaking, and engagement work.
Above all, this means ensuring that consumers get the information they need to make the financial decisions they believe are best for themselves and their families—that prices are clear up front, that risks are visible, and that nothing is buried in fine print. In a market that works, consumers should be able to make direct comparisons among products and no provider should be able to use unfair, deceptive, or abusive practices.
About Thomas O’Shea
Thomas O’Shea currently serves as President/CEO of Aspire FCU based in Clark, NJ. Mr. O’Shea has been at Aspire since 2005. Aspire serves the employees of over 200 companies and has more than 25,000 members located in all fifty states. He was awarded the New Jersey Credit Union League “CEO of the Year” award in 2008, and the League’s “Distinguished Service Award” in 1998. He was also the Sayreville, NJ Chamber of Commerce “Business Leader of the Year” in 1997. He received his Certified CU Executive designation in 1988. Mr. O’Shea is also a former board member of the NJ Credit Union League. His credit union career began in 1982.
About Consumer Financial Protection Bureau (CFPB)
The Consumer Financial Protection Bureau (CFPB) is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives. For more information, visit www.consumerfinance.gov.