Press
Filene Seeks Input on Credit Union Regulatory Burden
MADISON, WI (June 10, 2013) 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. The merits of this approach are debatable, but it almost always fails to account for small financial institutions, like 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 will also 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. Visit Filene’s website for more information about the research and frequently asked questions about the survey.
About Filene: Filene Research Institute is an independent, consumer finance think and do tank dedicated to scientific and thoughtful analysis about issues affecting the future of credit unions, retail banking and cooperative finance. Filene is a 501(c)(3) not-for-profit organization. Nearly 1000 members make the Institute’s research, innovation and impact programs possible.
About CUCC: Credit Union Central of Canada is the national trade association for the Canadian credit union system. Canada’s credit union system is a vital competitor in the financial services industry. Canadian Central represents five regional Centrals and one Federation representing 348 credit unions with more than $152.5 billion in assets and serving over 5.3 million members, outside of Quebec. For more information about Canada’s credit union system and Canadian Central visit www.cucentral.ca.