Leaders from the World Council of Credit Unions and the European Network of Credit Unions met with policymakers in Brussels this week to discuss critical regulatory issues, the organizations said.
Topics included draft directives concerning data protection, the proposed pan-European banking union, and deposit guarantee schemes under consideration in the European Union.
"Everywhere credit unions are seeing increased regulatory burden," said Brian Branch, president/CEO of the World Council of Credit Unions in Madison, Wis. "While we believe strongly in rigorous prudential discipline and risk management, we need to constantly dialogue with policymakers to educate them about the proportionately high compliance cost of such rules for smaller and less risky credit unions."
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