CFPB Announces New CU Advisory Committee Members

On Wednesday, the CFPB announced the names of four credit union executives who have joined its eight-member Credit Union Advisory Committee (CUAC).

According to the CFPB, the new CUAC members include the following:

• Chad LaFlash, associate vice president of research and product strategy at the $5.1 billion UW Credit Union in Madison, Wis.
• Floyd Rummel, III, CEO at the $139 million Northern Hills Federal Credit Union in Sturgis, S.D.
• Suzanne Weinstein, president/CEO at the $321 million Orlando Credit Union in Orlando, Fla.
• Shawn Wolbert, president/CEO at the $222 million GHS Federal Credit Union in Binghamton, N.Y.

Current CUAC members include:

• Deb Wreden (CUAC chair), EVP of product and delivery strategy at the $5 billion Virginia Credit Union in Richmond, Va.
• Michael Daugherty, president at the $25 million Community Plus Federal Credit Union in Rantoul, Ill.
• Jeff Ivey, president/CEO at the $149 million River City Federal Credit Union in San Antonio, Texas
• Michael J. Levy, vice president/general counsel at the $4.6 billion Travis Credit Union in Vacaville, Calif.

According to the official charter of the CUAC, members will submit “advice and recommendations to the Bureau relating to the activities and operations of credit unions, which shall be non-binding on the Bureau.”

While the CUAC rarely makes headlines, four years ago was a different story. In June 2018 then-Acting CFPB Director Mick Mulvaney disbanded the CUAC and two other groups with little to no notice. More than a year later, in October 2019, then-Director Kathy Kraninger reorganized the CUAC and other advisory groups to the basic form of what they are today.

The CUAC meets at least twice each year and each member serves a term of two years. The last time the committee met was in November 2022.