WASHINGTON — Credit unions are in pretty good shape despite the flood of regulations that continues to wash over the industry, including the new qualified mortgage rules from the Consumer Financial Protection Bureau.
That's the take from Andy Greenawalt, CEO of Continuity Control, a New Haven, Conn.-based provider of compliance technology to about 160 financial institutions, including about 65 credit unions.
"Credit unions are largely in fine shape," Greenawalt said Tuesday in an interview with Credit Union Times at the Governmental Affairs Conference. "Because of their capital structure, they have so many constraints imposed on them, they couldn't get themselves in too much trouble."
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