Regulators, Congress Big Part Of The Problem

October 2011
Credit Union Journal;10/24/2011, Vol. 15 Issue 41, p18
Trade Publication
The article reports on the view of South West Gas Federal Credit Union (FCU) chief executive officer (CEO) John Drake regarding the regulations pertaining to small CUs in the U.S. Drake asserts that many small CUs have closed their businesses due to their lack of resources to hire compliance officers or upgrade their systems to track all requirements. He also reminds the implications when the National Credit Union Administration (NCUA) continues to treat small CUs like large banks.


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