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The Advocate Blog

WGL CEO Lynette Smith Tells Congress To Roll Back CFPB Authority

A prominent credit union executive from Virginia called on Congress Tuesday to undertake major changes to ease the authority of the fledgling Consumer Financial Protection Bureau over credit unions and banks.

"I cannot emphasize enough how burdensome and costly the unnecessary and duplicative compliance... More

CFPB Proposes CUNA-Sought Credit Rule Delay

(FROM CUNA's NEWS NOW, May 8)

The Consumer Financial Protection Bureau has favorably responded to the Credit Union National Association's recent request that the agency delay a June 1 effective date relating to the prohibition on financing certain credit insurance charges. The provision is contained... More

Cordray Calls for Financial Education in Schools

The Consumer Financial Protection Bureau is recommending that policymakers implement a nationwide financial education program into grade school as well as standardized tests.

Upon issuing a white paper Tuesday, CFPB Director Richard Cordray called the current process "utterly unacceptable"... More