The ranking Democrat on the House Financial Services Committee, Rep. Maxine Waters (D-Calif.) said Wednesday she will sponsor legislation next year to exempt credit unions from many CFPB rules.
"I want you to have everything you need," Waters said at the final day of NAFCU's Congressional Caucus.
Waters said that a huge number of members of Congress have asked CFPB Director Richard Cordray to exempt credit unions from many rules, but that he has said he cannot do that under federal law.
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