CUNA is seeking credit unions to participate in a relaunch of its regulatory burden study to provide 2017 data on the costs of regulations.
CUNA, along with Cornerstone Advisors, first published the study looking at 2014 costs and finding that regulatory burden cost credit unions $7.2 billion that year.
“When we reported that regulations cost credit unions $7.2 billion in 2014, we generated a lot of attention here in Washington,” CUNA President/CEO Jim Nussle wrote to CUNA members this week. “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.”
Nussle asked credit unions to consider participating in the study, which will again be conducted with Cornerstone Advisors. CUNA will hold a webinar later this month for credit unions interested in participating.
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.
Registration is now open for the study, which will take place in the fall.