The House of Representatives is set to vote tomorrow on a package of bills that would change the way the Consumer Financial Protection Bureau operates, though the measures would face a rougher road in the Senate. The package of bills would have the bureau run by a five-member board rather than a director; and allow the bureau's decisions to be overturned by a majority vote of the Financial Stability Oversight Council rather than two thirds.
When the House Financial Services Committee passed the legislation in May it was along party lines, with Republicans supporting it and Democrats opposing it.
NAFCU supported all of the changes while CUNA took a more nuanced view.
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