The full effect of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank) is still to be felt in the financial sector. Dodd-Frank creates an environment of increased scrutiny and heightened sensitivity by regulators and consumers.

Perhaps credit unions should not be treated in the same way as other financial firms; however, regulators are reacting to this environment. With this in mind, senior management and their boards must be on top of their game today in addressing compliance issues.

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