Testimony Reveals Dodd-Frank Has Increased Compliance Costs Five-Fold

During his testimony yesterday before the House Committee on Small Business Growth, Tax and Capital Access, Dixies FCU President/CEO Scott Eagerton reported that compliance costs at his $42 million credit union have risen from $20,000 per year to $100,000 per year since the passage of the Dodd-Frank Act. Julie Gordon, Senior Director of the Housing and Consumer Finance Center testified that small financial institution should be exempt from many of the CFPB’s rules. [9/18/15]