WASHINGTON, D.C. – The Defense Credit Union Council (DCUC) applauds Representative Andy Barr (R-KY) for introducing new legislation (H.R. 654) that would subject the CFPB to the congressional appropriations process. “We have consistently urged Congress to bring necessary reforms at the CFPB, especially in response to growing concerns about the agency's overreach,” said Jason Stverak, DCUC Chief Advocacy Officer. “This proposed legislation represents an important step toward establishing appropriate regulatory processes that enhance efficiency, ensure fairness, and support all financial institutions.”
DCUC’s letter sent last month outlined several concerns related to the CFPB’s regulatory processes and actions while providing recommendations for structural reform. “DCUC believes that structural reforms to the CFPB are critical to ensuring its accountability, transparency, and balanced oversight of the financial sector. Specifically, we recommend:
“We look forward to collaborating with Congressman Barr and his staff on this critical legislation and other initiatives that foster the growth and sustainability of the credit union industry,” said Stverak. For more information, please contact Jason Stverak at [email protected] and visit dcuc.org/advocacy. Comments are closed.
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