The regulatory burden has a price tag--so far--of $56 per credit union member in Georgia, according to a study commissioned by CUNA and cited by Georgia Credit Union Affiliates in a recent Atlantic Business Chronicle article.
Credit Union Association of the Dakotas President/CEO Jeff Olson detailed the negative impact regulatory burden has had on the states’ credit unions and their more than 470,000 members in op-eds appearing in North Dakota and South Dakota newspapers this week.
The second phase of Same Day ACH rollout has a Sept. 15 effective date, and a list of recommended action items to be performed has been released. All financial institutions must be prepared to receive by Sept. 15.
As Congress works this week to fund the government past April 28, CUNA will be engaged in the process as it seeks to see 2 particular issues addressed: funding for CDFIs and the CFPB's exemption authority.
CUNA stands ready to work with legislators to see regulatory relief enacted into law, and the CHOICE Act is a good first step, CUNA wrote to House Financial Services Committee leadership Tuesday in advance of a hearing on the bill.