CFPB Names CEO of HOPE to Consumer Advisory Board

The CEO of ""Hope Enterprise Corporation/Hope Credit Union (HOPE)"":http://www.hope-ec.org/,Bill Bynum, has been appointed to a leadership position with the ""Consumer Financial Protection Bureau (CFPB)"":http://www.consumerfinance.gov/.

Bynum was named the vice chairman of the organization's new initiative, the Consumer Advisory Board. With more than three decades of experience in community development finance,

Bynum will assist the CFPB in its efforts to enhance consumer finance markets. Bynum and the other members of the Consumer Advisory Board will be play a role in helping create effective regulations, through advising the CFPB on the consistent and fair enforcement of rules that will give consumers greater control over their economic well-being.

""I am deeply honored to be part of this important work to stabilize the nation's financial system, and ensure that people are not subjected to irresponsible and abusive financial practices,"" said Bynum. ""I look forward to sharing the experience HOPE has gained as a regulated financial institution that has assisted thousands of families who had been victimized by deceptive terms and conditions.""

Adding his commentary, the CFPB's director Richard Cordray noted, ""This group of experts truly represents the interests of the diverse people and communities we serve. The Consumer Advisory Board will be a key resource to the CFPB and I look forward to working with its members to further our mission to protect American consumers.""