The opinion piece written by John McKechnie noting how credit unions are different from other financial institutions, in part, because of their structured supervisory committees, is right on point.
To add to what he said, credit unions can also point to the fact that since 2009, the NCUA has had its own Consumer Protection Office specifically to handle consumer issues.
The OCP was created prior to the Consumer Financial Protection Bureau to send a clear message that NCUA knew credit unions best and could better handle any consumer issue in a fair, expeditious way. In addition, it was meant to be a buffer between credit unions and the CFPB. Acting as such, it has made herculean efforts to ensure the CFPB knows that credit unions are different.
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