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From the Editors of CU Weekly
THE CFPB: A BIGGER PICTURE
04/09/13 09:40 AM
CU Digest Gives Broad Perspective
"We're trying to walk the walk, not just talk the talk," Richard Cordray said. The acute tone in his voice during a February webinar with credit union executives uncovered a resolute yet delicate side as the Consumer Financial Protection Bureau (CFPB) director answered a score of questions coming his way.
Financial fraud, payday lending, overdraft rules, the bureau’s examination strategy, mortgage servicing, international remittances, auto loans—the inquiries didn’t stop there, and they seemed to cover the gamut of what any credit union CEO across America might’ve been contemplating at the time.
“The traditional credit union lending model is a responsible model, and it deserves to be treated differently under our rules than other types of lending,” Cordray added. His limited response may have sufficed the curiosity of some, while only whetting the appetite of others.
Click here to read the entire cover story within the April/May 2013 edition of Credit Union Digest on Pages 12-15!
Also included in this edition of CU Digest:
- Elko FCU in Leader 2 Leader—Page 5
- Innovation: A New Path for Compliance—Pages 6-7
- GAC: CUs Impress Lawmakers on Hill—Page 8
- Housing: Just Right, or Too Hot?—Page 16
- Indemnification Clauses Are Important—Page 19