Two CU Executives Named to CFPB’s Consumer Advisory Board
Laura Castro de Cortes, vice president of alternative financial services for the $480 million Centris FCU of Omaha, Neb., has been named to the Consumer Financial Protection Board’s Consumer Advisory Board.
She joins Hope Federal Credit Union CEO Bill Bynum, who is the board’s vice chairperson, as the only two credit union representatives in the group. Hope FCU is a $147 million low-income designated credit union in Jackson, Miss.
The board is charged with advising the CFPB on industry and consumer insights across a range of issues and emerging market trends.
The newly created board of 25 consumer and financial experts in consumer protection, financial services, community development, fair lending, civil rights, and consumer financial products or services represent depository institutions that primarily serve underserved communities, as well as communities that have been significantly impacted by higher-priced mortgage loans
“All of us at Centris are honored by Laura’s appointment to the CFPB Consumer Advisory Board, said Kevin Parks, president/CEO.
“Laura has been a dedicated advocate for under-served communities throughout her distinguished career in our industry. From our first-in-the-nation Centris Express kiosks to our RightTrack checking, Laura has brought innovate new products and strategies to better serve the many unbanked and under-banked consumers in our community," Parks said.
"This is a deserved honor for Laura, and an opportunity for the members we serve to have a voice at the table in Washington, D.C.," he said.
Castro de Cortes and Bynum join 15 other credit union leaders who were recently named to the CFPB’s Credit Union Advisory Council.
“Many families struggle with the cost, availability and access to basic financial services, said Castro de Cortes. “Some of these basic services are not offered at traditional financial services companies such as banks, thrifts and even credit unions. It’s an honor to be selected to the Consumer Advisory Board of the CFPB, and I look forward to bringing to the board all of the expertise and dedication that we bring to serving our members every day.”