CCUL Headlines: Regulatory

McDaniel among eight named to CU Advisory Council by CFPB

Wednesday, September 3, 2014   (0 Comments)
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Posted 9/3/14 at 2:20 p.m.
Updated 9/3/14 at 2:45 p.m.

Heritage Trust FCU CEO Jim McDaniel has been named to the Consumer Financial Protection Bureau (CFPB) Credit Union Advisory Council (CUAC), maintaining CUAC representation from the Carolinas as Truliant FCU President/CEO Marcus Schaefer serves a term recently extended through September 2015.

The CFPB announced on Thursday, August 28 the new CUAC members, as well as new senior leaders and other advisory board members, according to a recent article in CUNA’s News Now. New members of the council will serve two-year terms.

The council—created to advise the CFPB on regulating consumer financial products or services with an emphasis on sharing the unique perspectives of credit unions—includes:

  • Robert Falk, president/CEO, Purdue FCU, West Lafayette, Ind., with $823 million in assets;
  • Jason Lee, executive vice president/chief financial officer, Orion FCU, Memphis, Tenn., with $545 million in assets;
  • Robin Loftus, chief operating officer, Heartland CU, Springfield, Ill., with $243 million in assets;
  • James McDaniel, president/CEO, Heritage Trust FCU, Charleston, S.C., with $487 million in assets;
  • Robin Romano, CEO, MariSol FCU, Phoenix, with $33 million in assets;
  • Ronald Scott, president/CEO, Appalachian Community FCU, Gray, Tenn., with $171 million in assets;
  • David Seely, president/CEO, Kirtland FCU, Albuquerque, N.M., with $674 million in assets; and
  • John Winne, president/CEO, Boston Firefighters CU, Dorchester, Mass., with $193 million in assets.

The Carolinas Credit Union League (CCUL) worked with McDaniel on the recent nomination process.

“Regulatory advocacy is a strategic focus of the League,” shared CCUL SVP Association Services Dan Schline. “At the League staff level we are working to develop relationships with regulators, but we also need to find opportunities, like this one with the CFPB, for credit unions to provide feedback directly to regulatory agencies.”

Schaefer has been an invaluable member of the CFPB CUAC for the past two years, and there is every indication McDaniel will follow suit.

“Marc has been proactive in raising concerns of credit unions in the Carolinas during his time on the council,” said CCUL President/CEO John Radebaugh. “We appreciate his willingness to continue serving. We also congratulate Jim on his new appointment and know he will do a terrific job alongside Marc in representing credit unions.”

To read the full article, visit CUNA’s News Now  here.

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