CU Strategic Planning President/CEO Stacy Augustine joined us on the show to discuss the latest CDFI Fund proposed changes, as well as CU Strategic Planning's comment letter that shared their concerns over some of the changes.
Stacy then addressed why these changes were proposed.
She also talked about CU Strategic Planning’s response stating: “…the policy objectives are laudable, however, some of the specifics of the proposal might not work toward those goals.”
There were two concerns in particular Stacy shared:
Minimizing administrative burden on CDFIs while maintaining data quality and collection methods
Time frame for compliance
In addition, she examined how she sees these changes affecting credit unions, admitting that 1/3 of CU Strategic Planning's credit union clients would consider ending their certification status if changes go into effect as written.
Lastly, she shared next steps in this whole proposed changes process.
Always great talking with Stacy -- especially on topics that can have significant impact on the industry. Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.
Mike Lawson, Host
Married to a beautiful and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple.