Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
CUNA seeks comment on NCUA short-term loan proposal
WASHINGTON (5/17/10)--The Credit Union National Association (CUNA) has issued a regulatory comment call on the National Credit Union Administration’s (NCUA) proposed plan to allow credit unions to charge a higher interest rate on short-term, small dollar loans. These short-term loans would be capped at a maximum interest rate of 10% above the NCUA's loan ceiling and would have a maximum amount of $1,000. The minimum amount for these payday alternative loans would be $200. The loans will not roll over, and credit unions would be permitted to charge late or default fees and a $20 per loan origination fee to cover costs. Comments are due to CUNA by June 25. Comments to the NCUA should be submitted by July 5. To view the CUNA comment call, use the link.


RSS print
News Now LiveWire
Fryzel added @TheNCUA is fed. governmt, thereby will B criticized, but always tried 2 do what is right. McWatters still 2 B sworn in.2of2
48 minutes ago
Before @TheNCUA meeting adjourned, board member Fryzel said goodbyes, praised dedicated CU officials. 1of 2
49 minutes ago
.@TheNCUA revised budget is down by $1.1 mil for year ending Dec 31, 2014. That brings total revised budget to $266,920,296.
1 hours ago
.@TheNCUA says it will update it NCUA Guaranteed Notes (NGA) report on its website in October.
1 hours ago
Also carved out from the @TheNCUA fixed-asst plan, CUs with less than $1 million in assets.
2 hours ago