NCUSIF, Loan Interest Rate Ceiling on Today’s NCUA Agenda

ALEXANDRIA, Va. – It’s a brief agenda for today’s NCUA meeting, with just two items scheduled. The meeting will start at 10 a.m. (ET), with a link to the live video stream available shortly before at NCUA.gov.

The items are a quarterly update on the National Credit Union Share Insurance Fund, and a vote on the continuation of the Federal Credit Union Loan Interest Rate Ceiling.

The NCUA board decided in June 2015 to approve a ceiling of 18% annual percentage rate for most federal credit union loans, along with a 28% APR for Payday Alternative Loans. This extended the ceiling through March 10 of this year.

CUNA supports keeping the ceiling raised.

in Compliance & Regulatory News