Recently, NAFCU called on Congress and the credit union industry to rally behind its five-point plan for enacting broad-based credit union regulatory burden relief.
Since the passage of the Dodd-Frank Wall Street Reform Act, NAFCU has been repeatedly exhorting Congress, the CFPB, the NCUA, the Federal Reserve and others regarding the glut of rulemakings confronting our industry. Regulators, however, appear to be unmoved by the expense and ultimate consequences that are so troubling that some institutions fear their ability to survive.
Were small and mid-size financial institutions to close up shop, the direct consequence would be fewer options for consumers, a more homogenized marketplace and higher prices.
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