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CUNA Comments to CFPB and OMB

The Credit Union National Association (CUNA) submitted a comment letter last week to the Consumer Financial (CFPB) and the Office of Management and Budget (OMB) on the CFPB’s plans to collect information on compliance costs and other effects of its potential new regulations, including those required under the Dodd-Frank Act. CUNA urged the CFPB to minimize all costs and burdens associated with data collection by using limited, targeted questions, as well as efficient information collection methods. CUNA will continue to advocate to the CFPB and OMB that credit unions should be subject to minimal regulations.