Bureau’s CU Advisory Council Being Reorganized

Logo for the Bureau of Consumer Financial Protection

The Bureau of Consumer Financial Protection (BCFP) is reorganizing the Credit Union Advisory Council (CUAC) Charter, which will consist of six members serving one-year terms.

These members will meet “from time to time,” bureau officials have said—but at a minimum they will meet at least once each year.

Previously, the CUAC charter included 15 – 20 members serving two-year terms.

The bureau said new members of the council will be appointed “later this summer.” The agency had previously indicated the new members will be selected from the applications submitted earlier this year.

“We are pleased the bureau is continuing the CUAC,” said Sharon Turley, vice president of regulatory advocacy for the California and Nevada Credit Union Leagues. “It is important that credit unions have the opportunity to advise the bureau on credit union differences and how various regulations and requirements affect their operations.”

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