May 04, 2020

CUAC discusses coronavirus impacts via teleconference

cfpbThe CFPB's Credit Union Advisory Council (CUAC) Friday held a joint meeting via conference call with the agency's other advisory councils to discuss the coronavirus' impact on consumers and financial institutions.

Three representatives from NAFCU-member credit unions currently serve on CUAC.

During the conference call, members heard directly from CFPB Director Kathy Kraninger and representatives from the bureau's Office of Consumer Response; Division of Research, Markets, and Regulations; and Division of Consumer Education and Engagement.

The committee discussed a number of issues related to:

  • consumers complaints as a result of the coronavirus pandemic;
  • the pandemic's impact on special populations; and
  • the current financial marketplace.

NAFCU will continue to work closely with the CFPB, CUAC, and other stakeholders to share credit unions feedback and provide insights into the regulatory and legislative landscape.