Credit unions interested in participating in CUNA’s updated regulatory burden study are urged to register now, in time for an introductory webinar scheduled for next week.
CUNA announced the updated study earlier this month, and CUNA President/CEO Jim Nussle encouraged credit unions to participate so CUNA, leagues and credit unions have updated data to bring to policymakers about the costs of regulatory burden.
“When we reported that regulations cost credit unions $7.2 billion in 2014, we generated a lot of attention here in Washington,” Nussle said when announcing the new study. “I'm convinced that this information, combined with the fierce advocacy of credit unions, leagues and CUNA, is a major reason behind the improved prospect for reducing your regulatory burden in the future.”
CUNA, along with Cornerstone Advisors, conducted the study in 2015 looking at 2014 costs and finding that regulatory burden cost credit unions $7.2 billion that year. The updated study will again be conducted with Cornerstone Advisors.
Credit unions can fill out an online form and will be contacted with information about next week's webinar during which CUNA and Cornerstone Advisors will describe the study and what a credit union will need to do to participate.
The first study, released in March 2016, found that burdens caused $6.1 billion in regulatory costs and an additional $1.1 billion in lost revenue.
Credit unions, state leagues and CUNA staff used the study on numerous occasions following its release, in visits to Capitol Hill, meetings with regulators and congressional testimony, among others.
Registration is now open for the study, which will take place in the fall.