PORTLAND, Ore. (10/17/13)--While Congress and regulators have introduced an abundance of new regulations in recent years, the Credit Union National Association remains steadfast in its efforts to ease the burden on credit unions, Mary Dunn, CUNA deputy general counsel, said during a breakout session at the Northwest Credit Union Association's Amplify Conference in Portland, Ore. last week.
"Working with the leagues and credit unions, CUNA's regulatory advocacy is proactive at all times and aggressive when needed," Dunn said. "Our No. 1 regulatory advocacy priority is to pursue a positive regulatory environment for credit unions and minimize their regulatory burdens from the National Credit Union Administration, Consumer Financial Protection Bureau or whatever agency is involved to the greatest extent possible."
A strength of the credit union system in working with regulators is the strong partnership among CUNA, state leagues and credit unions, Dunn said.
That relationship also helps CUNA carry a unified message to lawmakers."Credit unions understand we are carrying that message the credit unions are burdened by regulation loud and clear to Congress," Dunn said.
CUNA continues to push for broad exemptions for credit unions on some CFPB rules, she said.
"Are they complete as we want them to be? No," Dunn told the group. And that is something we continue to work on," Dunn said.
CUNA's long-term strategy is to help regulators, including the NCUA, understand the regulatory burden credit unions face on a daily basis.
That includes even if a new regulation is needed, then considering if an existing regulation can be eliminated," Dunn said.