Links in “Final Rules”
- Going Once, Going Twice, Sold
The Federal Reserve has approved a rule regarding information collection after the proposal did not receive any comments during the 60-day comment period. [7/18/14]
- Idaho’s Payday Loan Law Takes Effect
This week, Idaho's "Payday Loan Act" went into effect. Loans are restricted to 25% of borrower income or $1,000, and lenders are required to provide an extended payment plan over a 60-day period for borrowers who are struggling to repay their loan. [7/3/14]
- NCUAâs Final Rule on Charitable Donation Accounts
AffirmX's Jane Pannier breaks down the final rule on charitable donation accounts. [1/13]
- Charitable Donation Accounts Rule Approved
The rule, approved by NCUA Board late last week, provides new ways in which CUs may use their pre-approved investment powers to support charitable donations and contributions to the community. [12/23]
- New 2014 HOEPA Threshold and Fee Safeharbor Established
As required under TILA, new thresholds for coverage under HOEPA rise to $632 or 8% of total loan amount (whichever is greater) and penalty fee safe harbor of $26 for §1026.52(b)(1)(ii)(A) and $37 for §1026.52(b)(1)(ii)(B). [12/16]
- NCUA Board Approves Charitable Donation Account Rule
At yesterdayâs NCUA Board meeting, action was taken on a number of items, including approval of a final rule on Charitable Donation Accounts (CDAs) that limits the CDA investments to 5% of a credit unionâs assets (an increase from the 3% cap set in the proposed rule); approval of a scaled-down budget for the Temporary Corporate Credit Union Stabilization Fund for 2014; a proposed rule concerning home-based credit unions; and approval of a final rule that exempts certain higher-priced mortgages from its Appraisal Rule. [12/13]
- Agencies Go Final on Appraisal Rule Small Exemption et Al
The appraisal requirements (written and interior inspection) for higher-priced mortgages received exemption on loans of $25,000 or less and certain "streamlined" refinancings (effective January 18, 2014) as well as special provisions for manufactured homes (effective July 18, 2015). [12/13]
- Loans Under $25K Exempted from Appraisal Rule
Final rule issued for appraisal requirements for higher-priced loans; loans of less than $25,000, along with certain kinds of refinance loans, are exempted. [12/13]
- NCUA Issues December Report
Articles highlight new CUSO rule, guidance on mortgage rules and Chairman Matz' regulatory outlook as well as a NCUA version of "'Twas the Night before Christmas." [12/12]
- Final CUSO Rule Not as Onerous as the Proposed Rule
CUSO expert Guy Messick provides a summary of the new CUSO rule and points out the differences between the final rule and the proposed rule that had garnered significant criticism from the industry. Messick identifies the provisions of the rule that will now pertain to state-chartered, federally insured credit unions, as well as the new CUSO reporting requirements scheduled to go into effect at the end of 2015. [12/11]
