Ask credit union CEOs what keeps them tossing and turning at night, and odds are the answers will focus on a growing flood of regulations and compliance issues.
The gripes: Lawmakers don't seem to understand how the impact of regulations flows through the credit union staff. The requirements often seem overkill for credit unions. Compliance is costly in both time and money.
"It seems constant," said Kirsten Williams, president/CEO of EP Federal Credit Union in Washington, D.C. "It's exaggerated to say every week, but it seems like it. It's cumulative."
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