Senate confirms Cordray as CFPB director
July 17, 2013 – NAFCU President and CEO Fred Becker sent a letter of congratulations Tuesday to CFPB Director Richard Cordray upon the bureau director's confirmation by the Senate to a full term in the post.
The Senate, voting 66-34, on Tuesday confirmed the president's nomination of Cordray to a five-year term as CFPB director.
Becker, in a brief letter sent just following that vote, noted the good relationship NAFCU and credit unions have shared with the CFPB. "Your accessibility and willingness to discuss difficult issues with us and our members is greatly appreciated," Becker wrote. "We look forward to continuing this relationship and working with you on issues affecting credit unions."
President Obama first nominated Cordray to lead the bureau in 2011. The nomination was blocked in the last Congress, and the president placed Cordray in the director's seat under a recess appointment that expires at year-end. The constitutionality of his recess appointment a year ago has been questioned, and that has helped fuel Republican opposition to his nomination.
After a late-evening meeting Monday, Senate Republicans and Democrats were able to come up with a deal that allowed Tuesday's vote on cloture. That, in turn, averted a potential filibuster and paved the way to the vote taken early last evening approving Cordray's confirmation.
Cordray discussed the CFPB's activities and the bureau's views on credit unions last week during NAFCU's Annual Conference and Solutions Expo in Boston.
Add to Calendar 2023-11-30 09:00:00 2023-11-30 09:00:00 Safeguarding Credit Unions with Threat Intelligence Listen On: Key Takeaways: [1:01] What is threat intelligence, and why is it important to CUs? [2:14] What are threat intelligence feeds, and what role do they play in strengthening CUs? [4:41] Leveraging threat feeds and integrating intelligence into tools is crucial. [6:35] Learn what threat CUs should be most concerned about. [7:39] Phishing is ever-evolving, and user awareness is critical. [10:43] Learn how Defense Storm uses feeds to protect its customers. [13:28] Threat intelligence is not as complicated as some think; initiation can be easy through Slack, discussions, and a reporting culture. Web NAFCU email@example.com America/New_York public
Add to Calendar 2023-11-28 09:00:00 2023-11-28 09:00:00 Growing Creatively & Innovatively in 2024 Listen On: Key Takeaways: [0:58] What can credit unions do to best prepare themselves for 2024? [2:12] Although he sees a glimmer of hope, Jack points out that the liquidity crisis and slow prepayment speeds hamper rapid recovery. [5:22] We discuss how credit unions seek low loan growth through member-centric strategies such as second mortgages and home improvement lending. [7:34] Credit unions are leveraging advancing technology for member-focused engagement. [9:31] How will technology continue to evolve and affect credit unions? [11:43] What role does AI play in innovative growth? [14:14] Credit unions adopt technology for efficiency, enabling staff to focus on personalized member interactions, especially with younger generations. [17:14] Closing thoughts, emphasizing competition against banks and fintech for younger generations. Web NAFCU firstname.lastname@example.org America/New_York public
Get daily updates.
Subscribe to NAFCU today.