Tag Archives: Regulatory Burden

The relationship between the regulator for credit unions, the Credit Union National Association (CUNA), and the CFPB has been a rocky one since the Bureau’s formation nearly five years ago.

The rule will affect more than 600 financial institutions.

While Curry said these legislative proposals are meaningful steps taken toward achieving relief from regulatory burden for community banks, he admitted there are other ways to make smaller institutions financially viable.

The objectives of the initiative to reduce the regulatory burden on community banks are consistent with the feedback the FFIEC has received as part of the regulatory review conducted under the Economic Growth and Regulatory Paperwork Reduction Act (EGPRA) of 1996, according to the FFIEC.

Comptroller of the Currency Thomas Curry discussed the challenges banks are facing with regulatory compliance and the regulatory burdens faced by smaller institutions in a speech before the New England Council in Boston, Massachusetts, on Friday.