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Home League Writes Congress in Support of Restructuring CFPB From Single-Director to 5-Member Commission

League Writes Congress in Support of Restructuring CFPB From Single-Director to 5-Member Commission

Authored By: Lewis Wood on 4/25/2023

Your League today wrote key members of the House Financial Services Committee to express our support for transitioning the Consumer Financial Protection Bureau’s leadership structure from the current single-director model to a multi-member commission.

“The Virginia Credit Union League has long supported a bipartisan five-member commission for the CFPB over the current single director model,” notes the letter. “This approach would provide a more balanced and consistent approach to supervision, regulation, and enforcement.”

The HFSC is slated to mark up the CFPB Transparency and Accountability Reform Act tomorrow (April 26).

Read our Letter



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