WASHINGTON—In response to an announcement by the Consumer Financial Protection Bureau (CFPB) has issued an interpretive rule clarifying that the Fair Credit Reporting Act (FCRA) generally preempts state laws that affect broad areas of credit reporting, the Defense Credit Union Council (DCUC), has issued a statement of general support of the move.
As DCUC stated and the CU Daily reported, the rule reaffirms Congress’s intent to establish uniform national standards for the credit reporting system and replaces the Bureau’s July 2022 interpretive rule, which was withdrawn in May 2025.
Prioritizing Consumer Protection
“Credit unions have always prioritized consumer protection and transparency. DCUC and our member credit unions remain committed to fostering a fair, safe, and consistent financial marketplace that serves the best interests of America’s communities and the broader credit reporting system,” DCUC Chief Advocacy Officer Jason Stverak said in a statement.
