While economists predict big loan gains this year, credit union leaders remain cautious.
The latest CU Times Sharper Pencil article looks at projections credit union lending will grow almost 10% this year.
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.
Experts weigh in on compliance costs to members, credit unions.
Six guidelines in place, seventh coming in October.