Some 70 senators signed a letter to CFPB Director RichardCordray asking him to take into account the regulatory burdens oncredit unions and community banks – and possibly exempt them fromsome rules.
“The CFPB must also consider its impact on community-baseddepository lenders, who are essential to spurring economic growthand prosperity at a local level, and not disrupt the good work ofcommunity lenders to help someone start a business, buy a home orcar, or put their kids through college,” the group of senators, ledby Sens. Joe Donnelly (D-Ind.) and Ben Sasse (R-Neb.), wrote.
The letter was similar to one sent to Cordray by 329 Housemembers earlier this year.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
