MADISON, Wis. Filene Research Institute and Credit Union Central of Canada are seeking North American credit unions to complete a survey on increasing regulation on credit unions in Canada and the United States responses are due June 14.
When legislatures, regulators, and international standards organizations write financial regulation, they follow the headlines, writing checks and balances designed to fend off the last crisis and to target egregious offenders or systemically risky organizations, Filene and CUC of Canada said. The merits of this approach are debatable, they noted, but it “almost always fails to account for small financial institutions, such as credit unions, which must find ways to cope with new mandates.”
This survey will form the basis of a study by Professors Panu Kalmi, University of Vaasa, Finland, and Giovanni Ferri, LUMSA University of Rome, Italy, seeking to quantify regulatory burden for credit unions, especially its differing effects across asset sizes. The survey also will ask respondents to categorize their time spent complying with specific regulations (differing in the United States and in Canada) in an attempt to identify the most burdensome regulations.
Complete the survey here
