Regulatory burdens stemming from the Bank Secrecy Act, Dodd-Frank Act and the Department of Housing and Urban Development, among others, add another layer of responsibility to credit unions’ day-to-day operations. Complaints of rising compliance-related costs are common, but just how much is compliance costing CUs, and how are they paying...
Even small credit unions spend thousands a month on meeting the regulatory burden. Find out more in this sneak peek at an article from the next print edition of Credit Union Times.
No more. That’s CUNA’s message to the NCUA when it comes to regulations. In a 15-page letter to NCUA Chairman Debbie Matz, the trade association said it wants the regulator not to issue any new regulations during the next six months, and after that to do a better job of justifying the...
Regulations conflict and often harm the people they are meant to protect, CU execs argue.
Credit union execs share what scares them on Halloween: Regulatory burden.
The 135,000-member Royal Credit Union has purchased the mortgage servicing rights to $600 million in mortgage loans from a local bank that the FDIC subsequently took over and sold to another bank.
Credit unions absolutely can and should make mortgage loans, according to a longtime CU executive, but in order to do so they need to get serious about the product.