Feb. 20, 2013 – The CFPB’s Consumer Advisory Board begins a two-day meeting in Washington today that will include discussion of supervision, overdraft services, credit reporting, mobile payments and remittances.
Carrie Hunt, NAFCU’s general counsel and vice president of regulatory affairs, and Tessema Tefferi, senior regulatory affairs counsel, are attending this week’s meeting.
The meeting, held at CFPB headquarters, begins at 10 a.m. Eastern. Today’s opening remarks come from CFPB Director Richard Cordray, Associate Director Zixta Martinez and Consumer Advisory Board Chair Jose Quinonez.
The 25-member board was created as directed by the Dodd-Frank Act. Its charge is to advise and consult with the bureau director on consumer financial issues. It has two credit union representatives: Laura Castro de Cortes, vice president of alternative financial services at Centris FCU, Nebraska (a NAFCU member), and William Bynum, CEO of Hope FCU (Mississippi). Bynum is the panel’s vice chair.
Overall, the panel includes experts in consumer protection, financial services, community development, fair lending, civil rights, and consumer financial products or services. The group also includes representatives of depository institutions that primarily serve underserved communities, and from communities significantly affected by higher-priced mortgages.