Edwin Chow, regional director of the CFPB, told a group of more than 30 Northwest credit union professionals that the bureau’s focus will continue to be on financial institutions with more than $10 billion in assets and on non-federally regulated entities, such as mortgage lenders and brokers, consumer reporting agencies, and payday lenders.
Before the ink has even dried on the CFPB’s rules implementing Dodd-Frank mortgage requirements, Northwest credit unions will have the opportunity for face-to-face dialogue with Edwin Chow, the agency’s regional director, through an exclusive discussion session on Feb. 4.
This is your chance to get your concerns adressed, as well as to advocate for beneficial changes to these rules prior to when they go into effect.
A small group of Northwest credit union leaders met with CFPB Director Richard Cordray at the Seattle Central Public Library on Wednesday to learn more about the bureau’s operations and direction and to share concerns with the agency’s leaders.