Daunting Challenges Face the CU Industry
Sweat the small stuff.
Congress won’t undertake a massive overhaul of the regulatory system during the next two years, but there will no shortage of action on lower profile issues that impact credit unions.
Even if the House takes action, it’s not clear if the Democratic-controlled Senate would follow suit.
If you are trying to imagine a movie featuring a House Financial Services Committee discussion of the issue, think Tommy Lee Jones as Chairman Spencer Bacchus (R-Ala.) and Dustin Hoffman as ranking Democrat Barney Frank (D-Mass.).
Matz has weighed in favor of capital reform, and the trade associations have come up with something of a consensus position.
Not to sound like a broken record, but the banks could be an obstacle here, too. However, if credit unions frame the issue in terms of safety and soundness, they might increase their chances.