Truth in Savings

摘要

The National Credit Union Administration is amending part 707 of the NCUA Rules and Regulations (``part 707''), which implements the Truth in Savings Act for credit unions. The effective date for part 707 is January 1, 1995. This document extends the compliance date for nonautomated credit unions that have assets of $1 million or less as of December 31, 1993. The extensions give the smaller nonautomated credit unions time needed to come into compliance with part 707. The extensions also give NCUA additional time to assist the smaller nonautomated credit unions with compliance issues. This document also contains clarifications, technical amendments and revisions to part 707.