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