NCUA's idea of regulatory relief is a smattering of special interest issues that have little impact on the majority of CUs. And, NCUA will increase "risk" compliance down the road on these new "reg-relief" opportunities. The net result will be more regulatory burden. That's what NCUA does best.
Real regulatory relief should be immediate roll-back of worthless regulatory compliance. Start with cancelling the vendor management process. Each year CUs are required to risk-assess hundreds of vendors we've done business with for years. Can anyone name one CU that caused a loss to NCUSIF because of a vendor?
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How come every time Debbie's mouth opens, the words of Hillary come out?
NCUA's idea of regulatory relief is a smattering of special interest issues that have little impact on the majority of CUs. And, NCUA will increase "risk" compliance down the road on these new "reg-relief" opportunities.
The net result will be more regulatory burden. That's what NCUA does best.
Real regulatory relief should be immediate roll-back of worthless regulatory compliance. Start with cancelling the vendor management process. Each year CUs are required to risk-assess hundreds of vendors we've done business with for years. Can anyone name one CU that caused a loss to NCUSIF because of a vendor?
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