Newsroom
CFPB transparency bills clear committee
June 11, 2014 – The House Financial Services Committee on Tuesday debated several bills that promote transparency at CFPB, including a bill requiring the bureau to have open meetings and more public involvement.
While some pieces of legislation still await final consideration, the committee did approve, by voice vote, H.R. 4262, the "Bureau Advisory Commission Transparency Act" – which was introduced by Rep. Sean Duffy, R-Wis., and would apply the requirements of the Federal Advisory Committee Act to CFPB. NAFCU supports this measure and CFPB's recent move to open up its council and advisory board meetings to the public.
The committee also approved legislation, H.R. 4383, "Bureau of Consumer Financial Protection Small Business Advisory Board Act" – which was introduced by Rep. Robert Pittenger, R-N.C., and which would establish a small business advisory board within CFPB. Of note, the bill was amended in committee to codify the existing credit union advisory council.
NAFCU Vice President of Legislative Affairs Brad Thaler wrote the committee ahead of the mark-up to support H.R. 4262 as well as:
- H.R. 4387, the "Financial Stability Oversight Council Transparency and Accountability Act," which would require openness and transparency at the FSOC.
- H.R. 4539, the "Bureau Research Transparency Act," which would ensure CFPB research papers are made available to the public.
- H.R. 4662, the "Bureau Advisory Opinion Act," which would establish a process for institutions to get needed advisory opinions from CFPB.
- H.R. 4804, the "Bureau Examination Fairness Act," which would set time limits on CFPB's completion of examination field work and issuance of exam reports and supervisory letters.
Share This
Related Resources
Add to Calendar 2024-06-26 14:00:00 2024-06-26 14:00:00 Gallagher Executive Compensation and Benefits Survey About the Webinar The webinar will share trends in executive pay increases, annual bonuses, and nonqualified benefit plans. Learn how to use the data charts as well as make this data actionable in order to improve your retention strategy. You’ll hear directly from the survey project manager on how to maximize the data points to gain a competitive edge in the market. Key findings on: Total compensation by asset size Nonqualified benefit plans Bonus targets and metrics Prerequisites Demographics Board expenses Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public
Gallagher Executive Compensation and Benefits Survey
preferred partner
Gallagher
Webinar
AI in Action: Redefining Disaster Preparedness and Financial Security
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 2024 Mid-Year Fraud Review Listen On: Key Takeaways: [01:16] Check fraud continues to be rampant across the country. Card fraud is affecting everyone. [04:31] Counterfeit US passport cards are just another new toolbox in the bad actors’ toolbox. [07:21] Blocking the fallback is the only way to defeat counterfeit cards. [11:17] The best way is constant education to your members in as many channels as you can. [13:02] We are still seeing overdraft lawsuits. Make sure the programming you have at your credit union matches what you have displayed for the members. Web NAFCU digital@nafcu.org America/New_York public
2024 Mid-Year Fraud Review
Strategy & Growth, Consumer Lending
preferred partner
Allied Solutions
Podcast
Get daily updates.
Subscribe to NAFCU today.