Quick now, what country has the highest participation in credit unions? Say the US and you are wong. According to Mike Edwards, senior vice president for advocacy at the World Council of Credit Unions, it's Ireland, north and south, where 70% belong.
In this podcast he tells why that participation is so high.
He also tells why many regulatory matters in the US in fact originate overseas - risk based capital, Bank Secrecy Act requirements, AML, and more got their start overseas and that is why Edwards spends much of his time monitoring and attempting to influence regulations overseas.
What happens in Basel does not stay in Basel. It may and probably will wind up in the US.
Listen in to this informative podcast.
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