Agency seeking comment on disclosures while moving toward added protections.
The financial institution must disclose fees, exchange rates and the amount of money that the recipient will receive.
Cordray says focus will be on those who "materially increase the risk of violations of federal consumer laws."
NAFCU, CUNA counsels recommend changes in shortened version.
The Consumer Financial Protection Bureau plans to test a shorter, more concise, credit card agreement with members of Pentagon FCU.
Democrats to move forward despite Republican filibuster threat.
Credit unions and other interested parties that want to comment on regulations relating to 14 consumer protection laws can submit comments to the Consumer Financial Protection Bureau.
NCUA, FDIC and others issue statement reiterating size requirements for falling under direct CFPB supervision.
While the newly launched Consumer Financial Protection Bureau has received considerable attention and criticism, the focus for most credit unions is on the NCUA’s Office of Consumer Protection.
The Consumer Financial Protection Bureau is still in its infancy but critics already say it's not playing nicely with others.