Feb. 8, 2012 – NAFCU President and CEO Fred Becker, in an interview aired Tuesday on CUbroadcast.com, pointed to opportunities facing credit unions amid an ongoing rise in bank fees, stronger positioning in the market and new federal scrutiny of nonbank service providers.
In the 11-minute segment, Becker also talked to CUbroadcast’s Mike Lawson about challenges facing the industry, but he said one of those – creation of the Consumer Financial Protection Bureau under the Dodd-Frank Act, has an upside as well.
Becker said CFPB Director Richard Cordray has been positive in his focus on credit unions and recognizes credit unions are “not the problem” in the financial industry. He also noted Cordray’s remarks about wanting to level the playing field against those providers that caused the financial crisis. “That will help us,” Becker noted.
The NAFCU president also talked about developments regarding NAFCU, including the recent launch of the new Musings from the CU Suite blog, membership growth and strong attendance at NAFCU conferences.