Industry consultants and credit union executives agreed the Supreme Court’s recent Truth in Lending Act ruling won’t require credit unions to change TILA procedures. The court ruled that borrowers were only required to notify their lenders in writing within three years of an alleged disclosure violation.

“I really don’t think there is much to say,” wrote Tracy Ashfield, the founder of Ashfield and Associates in an email reply to CU Times. “The ruling is not a surprise. The TILA has a lot of teeth and compliance with TILA is of paramount importance. My take is credit unions take compliance of all regulations very seriously and will continue to do so,” Ashfield wrote.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.