While conducting numerous interviews at the recent NAFCU Congressional Caucus, one of my questions to credit union attendees was: "What keeps you up at night? What do you wrestle with every day?" Every single CU executive I interviewed said: "Regulations." This onslaught of rules keeps them from properly serving their members, keeps them from really innovating, and keeps them running in 40 different directions simply to maintain. "Enough already!" was their cry.
Well, we may have a few answers for you on today's show with Compass 4 CU's President Gaye DeCesare. A very timely discussion with Gaye as she explains how credit unions can manage the current deluge, why mortgage regs are the most troublesome for today's CUs, and what exactly are all these regulations trying to accomplish -- especially since credit unions weren't the root of the problem? Is it paranoia or proactive thinking?
There's a lot more helpful content in this episode -- along with a comedy gem at the beginning portraying how I believe credit unions are feeling about the out-of-control regulation conveyer belt they are experiencing right now. Enjoy!
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