One of the more irksome things I hear in the credit union community is to save the small credit unions. Why? Just because they’re small?
The reduced compliance burden, as a result of new NCUA rules introduced during the regulator’s May 24 board meeting, is worth $8 million to federally insured credit unions.
Final rules passed at the NCUA board meeting May 24 include the extension of regulatory flexibility standards to all credit unions, and new rules for troubled debt restructuring that will require written loan workout and nonaccrual policies.
What is the reduced compliance burden, as a result of Thursday’s new NCUA rules, worth to credit unions?
Small institutions particularly hard hit by increased compliance costs and falling debit card interchange rate, subcommittee told.
Regulatory burden, National Flood insurance Program on the agenda.
Credit unions have two CEOs on the agenda Wednesday at the House Financial Institutions Subcommittee’s hearing on compliance burdens.
Legislator, official, get an earful from unhappy CU executives.