Regulatory Comment Call & Final Rule Analysis

CUNA
August 19, 2010 | COMMENTS

COMMENT CALL:

Interim Final Rule: Low-Income Definition

The National Credit Union Administration recently adopted an interim final rule.  NCUA amended the definition of "low-income members" to clarify that, in determining a credit union's low-income designation, the comparison of credit union data (whether individual or family data) must utilize statistical data in the same category.  This means, for example, an individual's income must be compared to median individual income and not to median family income.  Comments are due to CUNA on September 20, 2011 and due to NCUA on October 4, 2011.

> View Full Comment Call at CUNA.org

FINAL RULE ANALYSIS:

Fed Adjusts the Amount of Mortgage Fees that Trigger Additional Disclosures Under Truth in Lending

The Federal Reserve Board has announced its annual adjustment of the dollar amount of points and fees that trigger additional disclosures and prohibitions under the Truth in Lending Act for certain mortgage loans.  The dollar amount will be adjusted from $579 for 2010 to $592 for 2011, which is based on the Consumer Price Index.  More info:

> View Full Final Rule Analysis at CUNA.org

 

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