The Defense Credit Union Council is calling on federal officials to reinstate the Consumer Financial Protection Bureau’s Credit Union Advisory Council (CUAC), arguing the body is essential to ensuring the needs of credit union members, especially servicemembers and underserved communities, are not overlooked in Washington.
In a letter sent Nov. 28 to Acting CFPB Director and White House budget chief Russell Vought, DCUC President/CEO Anthony Hernandez said eliminating the council removed “an essential channel for dialogue” between credit unions and federal regulators. The CUAC historically offered the CFPB direct insight into how policies affect more than 144 million Americans served by credit unions.
Hernandez wrote that without CUAC, policymakers risk hearing disproportionately from banking executives who routinely populate key positions across administrations. Credit unions play a different role in the financial system, he said, one rooted in consumer well-being rather than shareholder returns.
DCUC argued the advisory council should be revived not only because it improves regulatory outcomes, but also because it can operate at no added cost to the government. Hernandez said credit unions are willing to cover their own travel expenses, participate virtually if needed, and even help underwrite administrative costs if that would remove financial barriers to chartering the group.
The letter highlighted credit unions’ long track record of supporting consumers during crises, including providing zero-interest loans during federal government shutdowns, and said those real-world experiences could help the CFPB craft more effective and balanced rules.
“As our team has emphasized, it was unfortunate the council has been done away with,” Hernandez wrote, urging the administration to “keep the door open for communication” with credit unions as major consumer-finance policies continue to evolve.
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