How credit unions can be recession ready
It’s been four years since the onset of the global pandemic and we are still feeling the economic whiplash. The result? A heightened regulatory environment around lending practices.
Financial stability for borrowers has been, well, unstable, moving regulatory bodies (like the CFPB) to crack down on lending practices. The record low interest rates penduluming to near-record highs have resulted in a regulatory environment that is highly borrower sensitive.
Recession rumors have been bubbling since the pandemic. Every year removed from the pandemic brings new challenges and more questions like, “Will a full-blown recession hit in 2024?”
Only time will tell.
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