Heather Anderson

Credit unions did not cause the financial crisis. Every time I hear or read that sentence, it makes my blood boil.

In July, when the Dodd-Frank Act marked its fifth anniversary, the phrase usually preceded discussion about regulatory relief.

Following the financial crisis, the CFPB and other regulators tightened the screws on financial institutions. Some of these regulations were justified. Many others were not. Eventually, the regulatory pendulum will swing back toward deregulation, which will fuel another boom, which will be followed by another bust. That’s the nature of the beast.

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