After a relatively quiet start, the month of September has produced a veritable news squall. Since mid-month, industry news has been loud, fast and furious.

First out of the gate was the NCUA board's approval on Sept. 17 to increase the small credit union definition to less than $100 million. The agency raised that threshold quickly during the past few years; as recently as 2012, it was only $10 million. The move will exempt 76% of credit unions from some regulations.

Still, Board Member Mark McWatters opined the increase was not enough. Bank regulators define a small bank as $550 million assets or less. Banks and credit unions compete in the same marketplace, McWatters reasoned, so credit unions deserve reg relief parity. NCUA Chairman Debbie Matz responded, saying if the threshold were raised to $550 million, 93% of credit unions would be considered small.