Filene Seeks Input on Regulatory Burden
The Filene Research Institute has joined with Credit Union Central of Canada to sponsor a study seeking to quantify the effects of growing regulation on credit unions in Canada and the United States.
Credit unions in both nations are asked to participate in the survey that will form the basis of the research by professors Panu Kalmi of the University of Vaasa in Finland and Giovanni Ferri of LUMSA University of Rome in Italy.
“When legislatures, regulators, and international standards organizations write financial regulation, they follow the headlines, writing checks and balances designed to fend off the last crisis and to target egregious offenders or systemically risky organizations,” Filene said in its announcement.
“The merits of this approach are debatable, but it almost always fails to account for small financial institutions, like credit unions, which must find ways to cope with new mandates,” the institute said.
The research will focus on the time spent complying with specific regulations and quantify its differing effects across assets sizes, the Madison, Wis., think tank said.
"We are excited to start this research with Professor Kalmi and Professor Ferri," said Ben Rogers, research director at the Filene Research Institute. "A clear-eyed measure of how regulations are affecting credit unions will be helpful for both credit unions and policymakers. The deadline for participation is on or before June 14."
There are American and Canadian versions of the survey and both are available online.