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March 29, 2012

NAFCU nominates 3 to Consumer Advisory Board

March 30, 2012 – NAFCU on Thursday submitted three nominations to membership on a newly created panel that will advise the Consumer Financial Protection Bureau on how to carry out its responsibilities under the law.

Dawn Donovan, president and CEO of Price Chopper Employees FCU in Schenectady, N.Y., Robert Fisher, president and CEO of Grow Financial FCU in Tampa Bay, Fla., and John Lewis, senior vice president of corporate affairs and general counsel at United Nations FCU in New York, N.Y., were named by the association to serve on the Consumer Advisory Board.

The CAB will "advise and consult" with the bureau on its consumer protection functions under federal law. The board will also "provide information on emerging practices in the consumer financial products and services industry, including regional trends, concerns, and other relevant information."

NAFCU President and CEO Fred Becker said that each nominee "brings a unique perspective and a wealth of insight on credit unions and the financial services industry that will serve the CFPB well."

Under Donovan's tenure at Price Chopper Employees FCU, the credit union has grown from $8.5 million in assets to $22 million in assets, expanding from basic financial services to a full array of products and services. Donovan is heavily involved in all of the day-to-day operations of the credit union, including compliance, finance and marketing. He serves on NAFCU's Regulatory Committee and is an adjunct professor at Schenectady County Community College.

Fisher has been CEO of Grow Financial FCU since 1992 and brings more than 25 years of financial services industry experience to the table. Since he began as executive vice president and chief financial officer in 1990, Fisher has worked to increase Grow Financial FCU's membership from 60,000 members to 155,000 members. He served on a branch board of the Federal Reserve Bank of Atlanta from 2001 to 2006 and has served on the Financial Services Advisory Board of Equifax.

Lewis is responsible for all legal and compliance functions at United Nations FCU, including several subsidiary companies in the U.S. and Europe. He also serves as board vice chairman for East River Development Alliance FCU in Queens, N.Y., a newly chartered, low-income community development credit union that primarily serves public housing residents. Lewis was instrumental in setting up the strategic partnerships, sponsorships, mentorships and other assistance necessary to make ERDA FCU a reality.

The CAB will have at least 16 members, with at least six of them appointed on the recommendations of the regional Federal Reserve Bank presidents on a rotating basis. The remaining members, appointed by CFPB Director Richard Cordray, will have staggered terms ranging from one to three years.

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