The CFPB has ignored the warnings of small business panels that have raised red flags about the impact rules will have on credit unions and other small businesses, trade groups warned Thursday.
"NAFCU remains concerned that the voice of panelists is not always heard," Brad Thaler, NAFCU's vice president of legislative affairs said, in a letter to the Senate Regulatory Affairs and Federal Management.
The subcommittee was scheduled to hold a hearing Thursday on how to improve small business input on regulations. The CFPB is required to organize small business panels to review the impact of federal rules.
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