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CU Compliance Anxiety Drops: Wolters Kluwer Survey

In part, the survey found that 61% said they were very or somewhat concerned about fair lending issues.

Credit union and bank officials are less anxious about their risk and compliance obligations than they were a year ago, Wolters Kluwer said in its annual Regulatory and Risk Management Indicator Survey.

With 582 responses, the survey generated a Main Indicator Score of 85 out of a possible 200. That represents an 18% drop from the level a year ago.

“While we see a reduction in the Main Indicator Score, more than 60% of respondents continue to rate their compliance concerns as a ‘7 or higher’ on a 10-point scale,” Timothy Burniston, senior advisor for regulatory strategy at Wolters Kluwer Compliance Solutions said.

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