Defense Credit Union Council (DCUC) Supports Scott, Haggerty, in proposed CFPB Accountability Act

Subjecting CFPB to Regular Congressional Appropriations Process

The Defense Credit Union Council (DCUC) voices its endorsement of Ranking Member Tim Scott (R-S.C.), Senator Bill Hagerty (R-Tenn.), and their colleagues on the Banking Committee for their introduction of the “Consumer Financial Protection Bureau (CFPB) Accountability Act.”

This proposed legislation would enhance the CFPB’s accountability by mandating that its funding be subject to annual appropriation by Congress.

“DCUC supports this legislation,” said Anthony Hernandez, DCUC president/CEO. “Implementing a standard congressional appropriations process for the CFPB will guarantee that the interests of consumers are consistently represented and safeguarded within the financial marketplace."