Phillip Matous, president/CEO of the $53 million Total Community Credit Union of Taylor, Mich. has thrown the book – a heavy one – back at his legislators and regulators.
To emphasize how the compliance burden on credit unions has reached a "ridiculous" point, Matous printed copies of the 1,099-page Consumer Financial Protection Bureau request for comment on its proposed combined mortgage disclosure rules and mailed them with his comment letter to U.S. Reps. John Dingell (D-Mich.) and Gary Peters (D-Mich.), U.S. Sens. Debbie Stabenow (D-Mich.) and Carl Levin (D-Mich.), CFPB Director Richard Cordray and NCUA Chairman Debbie Matz.
Printed double-sided, Matous said the request for comment is more than 2 inches thick.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
