Uncertainty and Haste Creates an Age of Chaos
Welcome to the age of chaos. Adaptability and change are the new standards for everything. Uncertainty and haste are the new normal. Recent news reports say people are only willing to wait 250 milliseconds for a search on the Internet. Google and Bing offer replies in less than a second. And that’s still not fast enough for us.
Add to that a bottlenecked Congress and the unrelenting pace of new regulations being trotted out seemingly on a daily basis, and it’s no wonder those of you in the credit union industry are feeling overwhelmed. After all, how can you evaluate risk and opportunity when the fundamentals of your business may change suddenly?
Also high on the agenda is giving credit unions’ access to supplemental capital. We were pleased that the Capital Access for Small Businesses and Jobs Act (H.R. 3993) incorporates language agreed upon by NAFCU and CUNA.
Safeguarding credit unions’ interests in any housing finance reform legislation continues to be a vital issue. Changes to the Federal Housing Administration’s three-year strategic default policy and preserving credit union access to a secondary market are key to supporting credit union mortgage lending.