A 37% decline in the numbers of both credit unions and banks indicates that too much regulation may be taking its toll.
Increasing regulatory burdens are forcing small institutions to merge or die, Continuity affirms.
Continuity estimates 1.35 employees are needed just to address new regulations introduced in Q1 2015.
Financial institutions pay $4.6B in enforcement action-related penalties in 2014, according to compliance firm.
Elevate compliance beyond a necessary evil. Try these tips from a recent Continuity Control compliance webinar.
Firm finds staff deals with some or all of 82 new regs costing financial institutions $45,264 in compliance costs.
While directors should be continually asking why, they should also stay out of daily operations.
Continuity Control webinar says while compliance cooled in the second half of 2013, it's heating up again this year.
An April 10 webinar from tech firm Continuity Control reveals more enforcement actions and examiners focused on boards.
In contrast to current meteorological trends, predictions for the coming regulatory climate, according to one consultant, show escalating temperatures with little chance of relief.