Monday, March 18, 2013

Legislative Scrutiny of CUs Will Intensify

An editorial by The Register-Guard newspaper in Eugene, Oregon calls for greater scrutiny of credit unions.

The editorial states that "the emergence of mega-credit unions is weakening the political protection traditionally provided by their small size and member-owned, not-for-profit status. As the distinctions between banks and credit unions blur, legislative scrutiny will intensify."

The editorial notes that one Oregon CU CEO's compensation was "more in line with Wall Street than Main Street."

The editorial ends with "[t]he days when credit unions occupied a small niche in the financial services industry are over. The size and reach of some credit unions ensures that they will be more energetically targeted by competitors and more closely watched by lawmakers. Credit unions won’t like it — but it’s an appropriate consequence of success."

Read the editorial.
Posted by at
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
 

The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.