WAIKOLOA, Hawaii-While member business lending gets a lot of the attention, reducing regulatory burden continues to be a priority for CUNA, according to CEO Bill Cheney.
"I think NCUA has acknowledged that perhaps a bit too late, and I don't mean that as a criticism, that they spent a little too much time trying to prevent the last crisis versus focusing on preventing the next one, which is much more important," said Cheney recently in remarks before the Volunteer Leadership Institute conference here. "If we don't ease up on this regulatory burden we may be creating the next crisis. Every dollar you spend dealing with the regulatory burden is a dollar you can't spend on helping members. We have identified ways with NCUA to reduce the regulatory burden."
Cheney noted that the Consumer Financial Protection Bureau has already hired more than 1,300 employees, and added, "We do have some work to do in the 113th Congress to reduce regulatory burden."
