From Regulation B to Regulation Z and beyond, the Consumer Financial Protection Bureau inherited a number of regs from seven different agencies. In doing so, the CFPB has made it a priority to streamline regulations by updating, modifying and even eliminating some provisions.
New regulations that aim to benefit consumers have become such a burden for credit unions that the cost of compliance may hamper growth and bring changes in the products, services and convenience consumers want the most.
Rules aimed at helping consumers may cost them at the credit union. Find out how in this preview from next week's print edition.