Onsite Coverage: CUNA Officials Warn of Increased Regulatory Burden
SAN ANTONIO — The NCUA and other regulators are overregulating to prevent another financial crisis and CUNA is trying to push back to give credit unions more autonomy.
That was the message of CUNA's top executives during a panel discussion at America's Credit Union Conference on Tuesday.
"The NCUA is overregulating and going overboard in the examination process and we are trying to make it more balanced," said CUNA Deputy General Counsel Mary Dunn.
In response to a question fron moderator NCUA Counsel Eric Richard, Dunn said the agency isn't out to destroy credit unions but it sometimes overreaches by seeing a problem that impacts a few credit unions and then creating a solution that increases the compliance burden for all credit unions.
CUNA Vice President for Legislative Affairs Ryan Donovan added that regulators are getting lots of pressure from lawmakers to preevent another financial crisis.
But CUNA President/CEO Bill Cheney that since the GOP took over the House there is more concern about easing the regulatory burden.