Recent Changes to Ohio Statutes Affecting Ohio Credit Unions

On December 19, 2018, Ohio’s Governor Kasich signed Ohio House Bill 489 (the “Bill”) resulting in changes to the regulatory requirements for credit unions, mortgage servicers and mortgage creditors. The new requirements are effective on March 20, 2019.

Download Donald Mallory’s summary of the bill for some of the most notable changes to the statutes affecting primarily Ohio chartered credit unions.

This summary of the Bill is not intended to replace a thorough reading of same and is not to be considered legal advice. While the information presented herein is accurate as of the date of publication (02/01/2019), it should not be cited or relied upon as legal authority and should not substitute for the advice of competent legal counsel in regard to your particular circumstances.

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  • About the Author


    Donald Mallory

    Donald Mallory is a partner at Wood + Lamping, and his practice focuses on insolvency debtors' and creditors' rights with a concentration on credit union representation, bankruptcy reorganizations, out-of-court workouts, financial and organizational corporate restructuring, complex litigation, and general business matters. He has significant experience representing debtors, secured lenders, trustees, and trade creditors in proceedings under Chapters 7, 11, and 13 of the U.S. Bankruptcy Code and insolvency-related litigation such as receiverships and Assignments for the Benefit of Creditors.

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