In the advocacy business, it's an article of faith that the credit union difference needs to be promoted at every turn. That's why what I saw at the CFPB last week gave me pause, but at the same time opened the door to improving the way the CFPB views credit unions.
The CFPB's Credit Union Advisory Council convened a meeting in Washington Oct. 1 that featured a very detailed discussion by bureau staff about the nuts and bolts of their new consumer complaint website. Intended to collect and resolve issues raised by aggrieved consumers, the site is a major element of how the CFPB interacts with the public. Leaving aside the controversy surrounding the fairness of having unproven allegations made public in this way, the consumer complaint database will become an increasingly formidable part of the daily life of all financial services providers. Count on it.
In the midst of this long discussion, however, the thing that struck me was what wasn't mentioned: Credit union supervisory committees.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
