This morning at 10 a.m. ET, Kathy Kraninger’s confirmation hearing will begin for the Bureau of Consumer Financial Protection (formerly CFPB) before the Senate Banking Committee. A copy of her prepared testimony was provided by LSCU sources. Yesterday, Sen. Elizabeth Warren released a report critical of Kraninger’s alleged lack of administrative or budgetary experience. Warren […]
Primary runoff elections were held across Alabama yesterday. Voters went to the polls to determine their party’s nominee for several offices including Lt. Governor, Attorney General, and the U.S. House Seat representing the 2nd congressional district . Congresswoman Martha Roby defeated former congressman Bobby Bright winning 68 percent of the vote. This is Roby’s second […]
The House passed a bill Tuesday that contains an LSCU and CUNA supported provision to delay the implementation date of NCUA’s risk-based capital rule. Specifically, it would push the bill’s effective date back to Jan. 1, 2021, from the currently scheduled Jan. 1, 2019 date. The League has worked closely with Congressman Bill Posey to […]
According to CUNA Mutual Group, Over the past five years, multicultural consumers* have accounted for 100 percent of the U.S. population growth and 61 percent of credit union membership growth. As the population becomes increasingly diverse, understanding cultural differences might cause credit unions to reconsider their communication messages and product delivery channels. The What Matters Now™: […]
Last Friday, President Donald Trump selected Kathy Kraninger, a little-known White House budget official, as the next director of the Consumer Financial Protection Bureau, setting up what is likely to be a bruising battle in Congress over the controversial young agency. Kraninger works under Mick Mulvaney at the Office of Management and Budget. Her surprise […]
Drew Breakspear, the state of Florida’s office of financial regulation commissioner has resigned. Florida’s CFO Jimmy Patronis announced the departure, effective June 30. Read the full article here.