The House Financial Services Committee, on Jan. 17, will consider legislation that would exempt financial institutions with less than $50 billion in consolidated assets from CFPB rulemaking.

CUNA and NAFCU have endorsed the bill.

The legislation, H.R. 1264, also would allow the CFPB, with the consent of banking regulators to revoke the exemption with respect to a specific regulation or class of institutions.

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