McLean Hosts Dialogue with CFPB Director

The Cooperative Credit Union Association hosted an insightful dialogue with the Consumer Financial Protection Bureau Director Rohit Chopra.  The virtual event, saw more than 80-member credit union professionals in attendance Tuesday afternoon, and provided a platform for a comprehensive discussion focusing on proposed rules such as data privacy and the opportunities and challenges of credit unions within the financial institution industry. 

President/CEO Ron McLean welcomed the group alongside Director Chopra, where he opened the floor for conversation after an overview of his agency’s objectives.  Discussions included CFPB open banking, junk fees, and regulatory arbitrage, as well as the integration of artificial intelligence, and nuanced differences between large financial institutions and small credit unions.  Director Chopra’s insights were impactful and resonated with the group. 

As our industry continues to adapt to new challenges and opportunities, the CCUA looks forward to more member dialogues in the future. Thank you to everyone who participated, and special thank you to Director Chopra for meeting with CCUA members!