NAFCU’s Berger, Staff Meet With CFPB

ARLINGTON, Va.—NAFCU President and CEO Dan Berger and staff met with CFPB Acting Deputy Director David Silberman Tuesday to discuss top credit union regulatory concerns and NAFCU’s suggestions for overdraft and payday lending, among other issues.
Also attending Tuesday’s meeting were NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt, Director of Regulatory Affairs Alicia Nealon and Regulatory Affairs Counsel Alexander Monterrubio.
Last week, CFPB urged the nation’s 25 largest retail banks to offer lower-risk deposit accounts to “help consumers avoid overdrafting” and issued a bulletin reminding banks and credit unions of the accurate-reporting requirements of the Fair Credit Reporting Act.
Hunt responded to CFPB’s announcement saying the association supports arming consumers with information to help them make sound decisions about checking and other financial services. She also noted that credit unions already offer the types of accounts and information CFPB pushed in last week’s statements.
Silberman was named acting deputy director at CFPB last month. He continues to serve as associate director of research, markets and regulations at the bureau.