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CUNA GAC Day Two: MCUL Meets with CFPB, Rep. Levin Remarks on Credit Unions   (Misc News: February 25, 2014)

MCUL & Affiliates CEO David Adams welcomes Rep. Sander Levin backstage at the CUNA GAC.

From left are Jeremiah Kossen of Lake Michigan CU, Elizabeth Ellis of the CFPB and Ken Ross and David Adams of MCUL & Affiliates.

MCUL & Affiliates leaders met with the assistant deputy director of the CFPB on Monday to discuss a variety of issues that are important to credit unions.

In addition, U.S. Rep. Sander Levin, D-Royal Oak, took the stage at the general assembly to speak about credit unions.

CEO David Adams, COO and Executive Vice President Ken Ross, along with Kieran Marion, vice president of governmental affairs and Jeremiah Kossen, vice president of operations at Lake Michigan CU, met with the CFPB’s Elizabeth Ellis. The group discussed the regulatory burden, qualified mortgage rule, mortgage servicing rules, fair lending issues, courtesy pay and MCUL’s data breach letter.

The Michigan credit union leaders also discussed the scope of small depositor exemptions, ways to improve recently issued regulations and ways that Michigan credit unions could provide the agency with insights regarding the ongoing impact of their rules.

Late this morning, MCUL & Affiliates CEO David Adams welcomed Levin, D-Royal Oak, to the stage.

Levin, the ranking member of the House Ways and Means Committee, told the general assembly at the GAC that credit unions are important to their communities.

"When the need was there, there was one door that was open,” Levin said, “the door of the local credit union. In Washington, D.C., we need to ensure that door is never closed."

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