The Credit Union National Association (CUNA) recently sent a letter to the Consumer Financial Protection Bureau (CFPB) urging the bureau to impose an immediate moratorium on all pending and future rulemakings.
The letter, signed by CUNA President and CEO Jim Nussle and addressed to CFPB Director Richard Cordray, states the association’s contention that CFPB is doing more harm than good with its policies, to consumers and community banks and credit unions.
Read on to find out what reasons CUNA cites for recommending CFPB cease progress on current operations.