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Basel Burdens Worry World Council

International credit union trade group cautions that the NCUA and other U.S. regulators often implement Basel ideas.

By Michael Muckian | Updated on January 11, 2015

As smaller, simpler institutions, credit unions worldwide would struggle under the same compliance burdens shouldered by larger, more complex international banks, according to the World Council of Credit Unions.

The Madison, Wis.-based international trade group made its concerns known Friday in a letter to the Basel Committee on Banking Supervision. World Council responded to the committee’s consultative document, Corporate governance principles for banks, which outlined proposed regulatory requirements and director criteria for financial institutions.

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