CUNA’s Nussle, Schenk talk CU regulatory climate at CEI
From left, CUNA Deputy Chief Advocacy Officer for Policy Analysis Mike Schenk and President/CEO Jim Nussle talk credit unions on Thursday October 4, 2018 at the Competitive Enterprise Institute.
CUNA President/CEO Jim Nussle and Deputy Chief Advocacy Officer for Policy Analysis Mike Schenk addressed the state of credit unions and opportunities for the future Thursday at the Competitive Enterprise Institute. Nussle and Scheck discussed the need for regulatory relief, credit union history, the Community Reinvestment Act and other topics.
Nussle, speaking about regulatory relief, said credit unions aren’t fighting against the concept of regulation, he noted that “regulation is part of our value proposition.” He added that common-sense regulatory solutions will benefit credit unions, members, and American consumers as a whole.
“Our challenge is not that we’re regulated. Our challenge is that sometimes regulation comes in a one-size-fits-all package,” he said. “We’ve got credit unions with $1 million in assets being run out of church basements. How can you possibly have a regulation that fits Bank of America and that credit union? That doesn’t make sense. So we want regulation that’s common-sense, fits the situation and empowers individuals.
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