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In a five-page letter to majority and minority leaders of a U.S. House of Representatives committee, America's Credit Unions President/CEO Jim Nussle continued his push against the CFPB's current structure and oversight powers and how it's negatively impacting the credit union industry as a whole.
On Tuesday, the U.S. House Financial Services Committee held a subcommittee meeting to take a closer look at reporting and transparency issues at the CFPB. The hearing titled "Agency Audit: Reviewing CFPB Financial Reporting & Transparency" set the stage to potentially pass a joint resolution (H.J. Res. 122) which would officially state "congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to 'Credit Card Penalty Fees (Regulation Z).'"
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
