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FOR IMMEDIATE RELEASE | May 02, 2019

CFPB HMDA Changes are Helpful to Credit Unions

WASHINGTON – The National Association of Federally-Insured Credit Unions (NAFCU) Executive Vice President of Government Affairs and General Counsel Carrie Hunt issued the following statement after the Consumer Financial Protection Bureau (CFPB) released proposed changes to Home Mortgage Disclosure Act (HMDA) rules:

“The CFPB’s proposed HMDA changes will help reverse the tide of burdensome regulations, which have impacted small-community lenders, including credit unions,” said NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt. “Credit unions wholeheartedly reject discrimination in all forms and support the goals of HMDA. NAFCU thanks the Bureau for listening to our concerns in implementing modest changes to allow more credit unions to focus on lending to those in need instead of being bogged down in red tape. We look forward to continuing to engage with the agency to better allow credit unions to serve their 116 million members.”

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The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.