NCUA
breaks down its capitalization of interest rule in new Letter to CUs
The NCUA Thursday issued a Letter to Credit Unions addressing the agency's
final rule amending its regulations to remove the prohibition on the capitalization
of interest in connection with loan workouts and modifications for all federally-insured
credit unions (FICUs). The NCUA Board approved the rule in June.
Vehicle
sales slip in July due to lack of supply
Total vehicle sales fell from
15.4 million annualized units to 14.8 million annualized units in July, with monthly
sales levels up 0.8 percent year over year. NAFCU Chief Economist and Vice President
of Research Curt Long analyzed the report in a new Macro Data Flash report.
New
on the Compliance Blog: FCU maturity limits, vaccine mandates, change-in-terms notices
As credit unions work to meet the needs of more than 125 million Americans during
the coronavirus pandemic, NAFCU's award-winning regulatory compliance team
continues to keep credit unions informed with new posts on the Compliance Blog every Monday, Wednesday, and Friday.
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