Bankowość i finanse · 21/11/1994

Truth in Savings

The NCUA Board is publishing its official staff commentary to Part 707 of the NCUA Rules and Regulations (Truth in Savings). The commentary applies and interprets the requirements of Part 707 and is a substitute for individual staff interpretations. The commentary incorporates much of the guidance provided when the regulation was adopted, and addresses additional questions that have been raised about the application of its requirements. In addition, the Board is implementing a provision of the Riegle Community Development and Regulatory Improvement Act of 1994, exempting accounts of unincorporated business associations from coverage of Part 707. A minor housekeeping amendment is also made to Part 707.