President Trump should not nominate NCUA Chairman J Mark McWatters as CFPB director because the credit union board has been a “cheerleader” rather than a regulator while he has been a member, community bankers said Thursday.

“The CFPB should not be led by the head of an agency that has acted as a cheerleader for the industry under its oversight,” Camden Fine, president of the Independent Community Bankers of America, said. “Rather, it requires an even-handed official with experience in the broader commercial banking sector.”

David Baumann


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2022 ALM Global, LLC. All Rights Reserved.