Credit unions have the "moral high ground" to promote a regulatory structure that allows them to keep operating as is, but they should be prepared to operate in a vastly changed system, that could include one regulator for all financial services providers.
That's the conclusion of a report by the Filene Institute that analyzes the regulatory restructuring ideas being discussed by the Obama administration and Congress.
Given that there is a strong tide toward consolidated regulation, credit unions should be proactive in pushing what they want, advises Filene's Chief Research Officer George Hofheimer, the report's author.
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