Credit union regulatory burden diverted $7.2B from services in 2014 alone: CUNA study


first_img 14SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Regulatory burden cost credit unions $7.2 billion in 2014, according to the results of a comprehensive study spearheaded by the Credit Union National Association (CUNA).In a webinar for CUNA members Tuesday, CUNA Chief Policy Officer Bill Hampel discussed the results of the study for the first time, and Chief Operating Officer Rich Meade provided an update on CUNA’s proposed bylaw modernizations.Regulatory relief is CUNA’s top advocacy priority, and CUNA has testified a number of times before Congress in recent years on the impact of regulatory burden on credit unions and their members.CUNA began working on the regulatory burden study roughly 18 months ago, and as the study was preparing to launch, several legislators commented in congressional hearings that banking regulators seemed to lack sufficient information on the costs associated with the regulations applied to financial institutions. continue reading »last_img

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