President Donald Trump nominated Stuart Levenbach to be director of the Consumer Financial Protection Bureau for a five-year term.
Background: Levenbach has served as associate director for natural resources, energy, science, and water at the Office of Management and Budget and as chief of staff for the National Oceanic and Atmospheric Administration.
Advocacy Impact: ICBA is advocating on several CFPB rulemakings, including:
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The CFPB’s new Section 1071 proposal, which would exempt more community banks and small-business loans.
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The bureau’s advance notice of proposed rulemaking on Section 1033, for which ICBA is working to expand the exemption for small data providers from banks with less than $850 million in assets to all community banks with assets $10 billion and under.