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Silver Lining to the Regulatory Clouds

For credit unions, there’s a real silver lining to the 2009-2010 regulatory frenzy, argues Georgetown Law Prof. Adam Levitin, whose Filene credits include a guide to the C.A.R.D. Act and a soon-to-be-released report on the changes to overdraft.

His take, presented to at the Filene Research Institute’s member breakfast at the GAC in February 2010, is that:

  • Credit unions rely far less than their competitors on credit card revenue and overdraft (though, here the reliance is more pronounced).
  • As mutuals, credit unions have more flexibility to work with decreased margins.
  • And the proposed CFPA will hamstring fringe players and banks much more than credit unions.