Don’t Punish Credit Unions For BigBanks’ Sins
May 11, 2015
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Philly.com – Credit unions are thriving. More than 100 million Americans are members – an all-time high. Credit unions are making more loans and holding more savings than ever before. And by competing aggressively with banks, credit unions are saving consumers $10 billion a year on fees, interest rates, and the like.
That may not be the case for much longer.
Regulations aimed at reining in Wall Street are instead walloping credit unions. Meanwhile, 40 percent of the rules prescribed by the 2010 Dodd-Frank financial reform law have yet to be finalized. So the regulatory choke hold on credit unions will only grow tighter.
