Through independent research and innovation, the Filene Research Institute explores issues vital to the future of credit unions and consumer finance.
The United States is poised to follow nations like Ireland, Canada and Australia in formally separating safety and soundness regulation from consumer protection. With a foreword from Prof. William Jackson, Filene research director Ben Rogers sketches the consumer financial protection proposals currently in play and compares them to pro-consumer structures around the world. The conclusion: If international experience holds, credit unions will come out smelling like roses.
More ...categories » Economic Issues - Policy, Regulation and Deposit Insurance, Safety and Soundness
Changes to Reg E mean big changes to fee income and credit union profitability. Georgetown law professor Adam Levitin draws on in-depth credit union survey data to estimate that a worst-case scenario could chop credit unions’ fee income by 11% and lower already plunging ROA. Those are the clouds.
More ...categories » Economic Issues - Policy, Regulation and Deposit Insurance
The new strictures on credit cards landed yesterday. The Fed’s new overdraft opt-in rules are already causing ulcers among big banks and credit unions alike. And the debate continues over a proposed new Consumer Financial Protection Agency. (passed in the House, pending in the Senate). What’s the good news again?
More ...categories » Economic Issues - Policy, Regulation and Deposit Insurance