Dixies FCU CEO Scott Eagerton, testifying on behalf of NAFCU, describes the negative effect Dodd-Frank has had on his small credit union. Photo: NAFCU/Kevin Dietsch

Compliance costs at the $42 million Dixies FCU have increased five-fold since 2009, from about $20,000 a year to $100,000 annually. President/CEO Scott Eagerton pressed that point about his Darlington, S.C.-based cooperative to members of the House Committee on Small Business Economic Growth, Tax and Capital Access Thursday during a hearing that examined the effect Dodd-Frank has had on small lenders.

“I feel like we’re getting away from helping people and focusing on following laws created in Washington,” Eagerton said about regulatory burden created by the 2010 law.

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