Credit unions shouldn't look for a nomination to replace Board Member Gigi Hyland soon, said CUNA President/CEO Bill Cheney.

Hyland announced her resignation on Sept. 20 after working more than a year since her six-year term expired.  Her last day is Oct. 5.

Cheney said it was highly unlikely the Obama Administration would act before the election. He added that the position wouldn't be worth the political heat Obama took when he appointed CFPB Director Richard Cordray while Congress was in recess. The administration's first nominee for that post, Carla Decker, withdrew her bid earlier this year.

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