Staying the Course in a Shifting Regulatory Landscape

June 1, 2026

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Change is a constant in financial services, and the recently issued executive order has brought renewed attention to the Bank Secrecy Act (BSA) and broader compliance expectations (i.e. ITIN acceptance). As federal agencies prepare new risk advisories and consider possible updates to Customer Identification Programs (CIP) in the months ahead, financial institutions are getting ready for what comes next.

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For credit unions, however, a changing regulatory environment does not change our mission. If anything, it’s reminder of who we are and what we do best. The credit union philosophy of "people helping people" has always been practical, not just aspirational. Financial inclusion requires strong risk management, creative problem solving, trusted community relationships, and a real commitment to safety and soundness.

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​Credit unions have never backed away from accountability. Strong BSA compliance is not just about checking a box. It helps protect members, prevent fraud, and support the long-term strength of the cooperative financial system. Keeping compliance practices strong and due diligence thorough is simply part of doing this work well.

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​Where Credit Unions Need to Stay Bold
 

As we work through these evolving guidelines, a few core principles should continue to guide the way forward:

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• Bold in Financial Inclusion: We should continue to stay deeply committed to serving unbanked and underbanked people within our fields of membership. Helping more people access a safe, regulated financial cooperative is one of the best ways to reduce reliance on predatory alternatives and strengthen local communities. Ensure all of your staff are aligned on how you plan to stay committed to financial access for all.
   

• Brave in Advocacy: As regulators develop new guidance over the next 90 to 180 days, credit unions need to speak up. We should advocate for compliance frameworks that strengthen consumer protection while avoiding unnecessary barriers for everyday consumers working to build financial stability for themselves and their families.
   

• Critical Risk Management: This means relying on data, sound judgment, and the assets credit unions already bring to relationship-based underwriting. Continue evaluating credit and operational risk critically and carefully. Credit unions can still maintain a holistic approach towards understanding members’ financial realities in their decision-making processes.

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Staying the Course

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At the end of the day, the responsibility of credit unions remains the same as it has always been: to build financially healthy communities, manage risk responsibly, and make sure every eligible member has a safe and equitable place to save and borrow. Contact Coopera today to learn more about how your credit unions can stay the course!