CDFI and CapNexus Sponsor organization HOPE Federal Credit Union/HOPE Enterprise Corporation's CEO William Bynum gave written testimony to the House Financial Services Committee Financial Institutions Consumer Credit Subcommittee on July 12, 2017. Read selected highlights below and the full testimony here.
"Removing the CFPB’s enforcement and rulemaking “abusive” UDAAP authority would reduce protections for consumers, effectively negating the work done by HOPE and similar organizations."
"The Mid South region faces some of the most severe poverty in the United States. Strong consumer protections are vital to ensuring that all people have access to responsible, affordable financial services required to support their families, create jobs, build assets and otherwise contribute to a strong, fair economy."