NCUA chair says her agency would be vigilant about telling credit union members about any violation of a federal consumer law or regulation.
Credit union trade groups are cautiously optimistic while Republicans are downright frustrated with the early moves of the new consumer bureau.
Although government work isn’t always lucrative, 25 NCUA employees make more than $201,000 annually, according to agency records.
NAFCU President/CEO Fred Becker urged regulators to “exercise caution,” when communicating with credit unions about complaints they receive so as not increase the likelihood of litigation or reputational risk.
Seeking to provide a one-stop source for consumer and credit union information, the NCUA today launched mycreditunion.gov.
More work preparing for exams and additional compliance requirements throughout the year.
The Senate last Thursday overcame strong Republican opposition and passed comprehensive regulatory overhaul legislation 60 to 39. All but one of the 58 Senate Democrats supported the measure, and all but three of the chamber's 41 Republicans opposed it.