Friday, July 20, 2012

NCUA Letter; Multi-Featured Open-End Lending

Letter from NCUA
Dear Board of Directors and Chief Executive Officer:
Credit unions that use a multi-featured open-end lending (MFOEL) plan to make various types of loans have asked NCUA for further guidance to interpret the latest rules issued by other federal regulatory agencies. The purpose of this letter is to update guidance to federal credit unions on multi-featured open-end lending1 and provide best practices for MFOEL plans used as single accounts with separate sub-accounts for different loan products.2.............Pages - Multi-Featured Open-End Lending (MFOEL)
at

No comments:

Post a Comment

Please no profanity or political comments.

Note: Only a member of this blog may post a comment.

Subscribe to: Post Comments (Atom)

The Statutory Lien and How to Use It.

Have you ever had a member who refused to make payments on a loan? Well, a federal credit union can use a statutory lien to claim a member...