Nick Best, Communications Manager, Canadian Credit Union Association
The credit union system secured a big win on the “bank” “banker” “banking” issue when the government announced that credit unions could use these terms, subject to disclosure.
At this time, it is unclear what these disclosure requirements will be, or when and how they will be enforced. CCUA will be hosting webinars for each region (BC, Prairies, Ontario, and Atlantic) to prepare you for Hike the Hill at Home, our next opportunity to entrench our sector’s gains on this issue. To register, please click here.
To ensure minimal compliance burdens, while ensuring regulators can fulfill their policy goals, CCUA is proposing a credit union market code to government.
When adopted by the system, this market code will pre-empt the imposition of regulation, help us better understand consumer protection issues, and better position credit unions who intend to pursue the federal option. The market code is being developed through extensive consultations with the entire sector, and is projected to be completed by November/December 2018.
It is critical that the system proactively promotes this code before government decides to introduce regulations, and hard work on the “bank” “banker” banking” issue is lost.
This webinar will familiarize you with the principles of the code and how to sell it to legislators during your Hike the Hill at Home meetings this summer.