While four credit unions stand in arms reach of the $10 billionthreshold, five credit unions currently share that distinction.Credit unions that have crossed the asset threshold said planningfor enhanced scrutiny is key to meeting the expectations of theCFPB.
“Take the time to get ready, like two to three years,” ParkerCann, senior vice president of governance risk compliance andgeneral counsel for BECU, said.
The Tukwila, Wash.-based BECU has $14.5 billion in assets,according to its latest Call Report. The credit union crossed the$10 billion threshold in early 2012.
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