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FOR IMMEDIATE RELEASE | October 26, 2022

NAFCU's Berger Warns Against Latest CFPB Fees Guidance

WASHINGTON –  The National Association of Federally-Insured Credit Unions (NAFCU) President and CEO Dan Berger issued the following statement in response to the CFPB's recent guidance on the fees that banks, credit unions and other financial institutions charge:

"Credit unions always put their members first, not their bottom lines, and follow the law by clearly disclosing their fees for products and services to consumers. The CFPB should not rely on scare tactics and legally non-binding guidance to delineate the bounds of its regulatory and supervisory authority. NAFCU supports greater transparency and accountability for the CFPB, especially in following the congressionally mandated notice-and-comment rulemaking process."

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The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.

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