Fed governor said banks of $50 million or less in assets hit harder by need to staff up to meet compliance demands.
In a Guest Opinion article in Credit Union Times [Jan. 23 issue, page xx], former CUNA president Dan Mica, now an industry consultant, shared his forecast for the 113th Congress. His prediction that measuring the success of the next two years by what does not occur rather than by what...
Canadian Federation of Independent Business report says small businesses there pay significantly more per employee in regulation costs than in U.S.
Because credit unions already generally abide by new final qualified mortgage and ability-to-repay rules released Jan. 10 by the Consumer Financial Protection Bureau, the most difficult compliance burden will be to document the process, said John Bundy, compliance manager for CUNA Mutual.
COMPASS 4 CUs has picked up its 18th client, the $152 million NARFE Premier FCU of Alexandria, Va.
Weak economy, low interest rates and most of all, regulatory burden, cited in responses.
Study shows 77% of senior financial services managers would consider ending relationships because of compliance concerns.
NCUA's concerns about regulatory overkill at CFPB are eye opening.
Regulatory compliance, invoicing and other areas that may have been under the priority radar a few years ago, have aggressively come to the forefront at many credit unions.
Credit unions pose diverse regulatory challenge, but some things apply to all sizes.