Kraninger Appoints New CFPB Credit Union Advisory Council Members

Consumer Financial Protection Bureau Director Kathy Kraninger last week announced the appointment of new members to the agency’s Credit Union Advisory Council.

The council is one of three advisory groups at the agency. Similar groups represent consumers and community bankers. The agency also has an Academic Research Council.

The CFPB announced that the advisory groups will have a virtual joint meeting on Wednesday to discuss the impact of the coronavirus economic crisis, as well as discrimination issues and effective tools that may be used to reach consumers.

The following people were reappointed to the credit union board:

  • Racardo McLaughlin, vice president of mortgage originations and operations at TwinStar Credit Union of Lacey, WA. McLaughlin will serve as the council’s chairman.
  • Rick Durante, vice president of corporate social responsibility and government affairs at Franklin Mint Federal Credit Union of Chadds Ford, Pa.
  • Doe Gregersen, vice president and general counsel at Landmark Credit Union of New Berlin, Wis.
  • Brian Holst, general counsel at Elevations Credit Union in Boulder, Colo.

New members of the council are:

  • Monica Davis, senior vice president of risk management at Union Square Credit Union, Wichita Falls, Texas.
  • Michelle Dwyer, president/CEO of Franklin First Federal Credit Union in Greenfield, Mass.
  • Jose Iregui, vice president of loan servicing and collections at Langley Federal Credit Union in Newport News, Va.
  • Jeremiah Kossen, president/CEO of Town and Country Credit Union in Minot, N.D.

The advisory groups have had a rocky history. When he was the first director of the agency, Obama Administration appointee Richard Cordray appointed large groups of members to each of the councils.

When Trump Administration appointee Mick Mulvaney took over the agency on an acting basis, he fired all members of the advisory groups.

Kraninger has said she wants to strengthen the role of the groups. Last year, she said the groups would meet three, rather than two times a year and would explore broad policy questions.

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