Jack Fallis, President/CEO of Global CU, Appointed to CFPB’s Credit Union Advisory Council

7/18/17

Jack Fallis, President and CEO of Spokane, Washington-based Global Credit Union

The Consumer Financial Protection Bureau (CFPB) recently announced the appointment of new consumer experts from outside the federal government to the Credit Union Advisory Council, Consumer Advisory Board, Community Bank Advisory Council, and Academic Research Council. The four bodies provide advice to CFPB leadership on a broad range of consumer financial issues and emerging market trends.

Jack Fallis, President and CEO of Spokane, Washington-based Global Credit Union, is among the new appointees to Credit Union Advisory Council, which guides the bureau on consumer financial issues related to credit unions.

“It’s important to have credit union leaders who can advise the CFPB about how their policies and practices impact the credit union industry,” Fallis said. “Similarly, it’s important that we continue to make the CFPB aware of the unique nature of credit unions in the financial services marketplace and how our business practices are very different than those of the for-profit banking industry.”

Other new Credit Union Advisory Council members include Kayce Bell, chief development officer at Alabama Credit Union in Tuscaloosa, AL; Luis Peralta, chief administrative officer at Kinecta Federal Credit Union in Manhattan Beach, CA; and David Tuyo, senior executive vice president and chief financial and operations officer at Power Financial Credit Union in Pembroke Pines, FL. The new members to the Credit Union Advisory Council will serve two-year terms.

Amy Nelson, President and CEO of Portland, Oregon-based Point West Credit Union, also serves on the council. She emphasizes how participation on this council aligns with the credit union mission to educate and empower consumers.

“Credit unions must ensure their safe, affordable, and durable programs are protected and championed as offerings of consumer choice,” said Nelson. “Be it having a seat at the table with the CFPB, local and national legislators, or community partners in our own backyard, our persistent voice is paramount. There is no room for the undertow of unintended consequences due to lack of participation. It is our duty to ensure our voice is heard, for members who have no voice.”

More information on the Bureau’s advisory groups and their members is available here.

Posted in Around the NW, Federal.