Kraninger Appoints Members of Credit Union Advisory Council

She also increases the number of in-person meetings from two to three, and increases term lengths from one to two years.

Entrance to the Consumer Financial Protection Bureau, Washington, D.C. (Source: Shutterstock)

CFPB Director Kathy Kraninger has named members of the agency’s reorganized Credit Union Advisory Council, with Sean Cahill, president/CEO of the TrueSky Credit Union in Oklahoma City serving as the chair.

Kraninger also named members to several other boards, including the Citizen’s Advisory Board.

The advisory boards have had a checkered history at the CFPB. They were active during the tenure of former CFPB Director Richard Cordray. However, when former Acting Director Mick Mulvaney ran the agency when President Trump took office, he fired members of the boards.

Mulvaney later appointed new members to the board, decreasing the number of members from 17 to seven.

This Spring, Kraninger announced that she intended to give the boards a more active role. She said the board’s meetings will include broad policy issues; under Mulvaney, the board focused on narrow issues at each meeting.

She also increased the number of in-person meetings from two to three and increased the term lengths from one to two years.

“The Bureau is able to protect consumers in the financial marketplace better when it receives input from a wide range of experts and stakeholders,” Kraninger said.

Next week, Kraninger is expected to testify before House and Senate committees, presenting the agency’s semi-annual report.

In addition to Cahill, the members of the Credit Union Advisory Council, including holdovers from the Mulvaney-appointed board are:

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