By the time next year rolls around, Truity Credit Union in Bartlesville, Okla., will be ready to comply with new mortgage loan requirements from the Consumer Financial Protection Bureau. Thanks to policies and procedures already in place, the final adjustments won’t likely be traumatic for the credit union.
North and South come together in vote on Thursday, plan to launch merged association on Jan. 1.
Experts weigh in on compliance costs to members, credit unions.
Six guidelines in place, seventh coming in October.
Two credit unions had the lowest rates in the country.
National delinquency rate at 0.8% in second quarter, credit bureau says.
Eve Nimkar comes to big Atlanta credit union from SunTrust Banks.
A lawsuit that challenged the authority of Dodd-Frank to regulate the financial services industry was dismissed Aug. 1 in Washington, D.C. in U.S. District Court.
Had the suit succeeded, the CFPB and its mandates to date would most likely have been rendered null and void.
Dallas-based league represents 646 credit unions in Texas, Oklahoma and Arkansas, officially opens for business on Monday.