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CUNA to Prepare Updated Study on Costs of Regulatory Burdens
Wednesday, April 19, 2017 6:40 AM

Credit Union National Association is seeking to update its groundbreaking study on the cost of regulatory burdens this year and will begin reaching out to credit unions in the coming weeks, Chief Policy Officer Bill Hampel said Monday. He added that the study will be conducted in the fall and result in data that is current as of 2017.

CUNA’s study, conducted by Cornerstone Advisors, found that in 2014 alone, regulatory burden cost credit unions $7.2 billion. “It’s been a few years, and the data isn’t exactly stale as these things go,” Hampel said. “It would be nice to check in and see what the numbers are, to see whether the cost has gone up.”

CUNA released its full study in March 2016, after a number of congressional requests to show a dollar impact of regulatory burdens facing credit unions. The study found that burdens caused $6.1 billion in regulatory costs and an additional $1.1 billion in lost revenue.

Hampel said CUNA plans to reach out to the credit unions that participated in the first study and will invite new credit unions to participate as well.