← Independent regulator rules (SEC/Fed/FDIC/SBA/FTC/NCUA/CPSC/FHFA/EEOC/NLRB)

Sample Income Data To Meet the Low-Income Definition

NCUA · final-rule · Published 2011-06-24 · Effective 2011-07-25 · 76 FR 36976

Document

Document number
2011-15731
Federal Register citation
76 FR 36976
CFR reference
12 CFR 701
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US National Credit Union Administration
Publication date
2011-06-24
Effective date
2011-07-25

Abstract

The NCUA is amending its regulation to permit federal credit unions (FCUs) that do not qualify for a low-income designation using the geo-coding software the agency has developed for that purpose to submit an analysis of a statistically valid sample of member income data as evidence they qualify for the designation. The final rule, by permitting FCUs to use a statistically valid sample of member incomes drawn from loan files or a survey, eases the burden on FCUs seeking to qualify for a low-income designation. The final rule is very similar to the proposed, with additional wording about not combining a survey and loan file review.

Source

Authoritative
Federal Register document
Machine
JSON-LD · Markdown