Timeless Wisdom: Serious Disconnects

“There are some serious disconnects going on, ones that imperil the safety and soundness of credit unions. One is the disconnect between members and their credit unions. The other is between credit unions and their regulators. . . Regulatory systems are bureaucratic and not market driven. The regulators are not so cognizant of just how rapid the changes in the real world are. They are focused on a bookkeeper’s definition of safety and soundness.”

Ed Callahan, Callahan Report, May 1999

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