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Truth in Savings

NCUA · final-rule · Published 1998-12-29 · Effective 1998-12-29 · 63 FR 71573

Document

Document number
98-33944
Federal Register citation
63 FR 71573
CFR reference
12 CFR 707
Type
Rule
Action
Interim final rule with request for comments.
Category
final-rule
Agency
US National Credit Union Administration
Publication date
1998-12-29
Effective date
1998-12-29

Abstract

NCUA is amending part 707 of its regulations to implement certain statutory changes in the Truth in Savings Act (TISA). These amendments: modify the rules governing indoor lobby signs; eliminate subsequent disclosure requirements for automatically renewable term share accounts with terms of one month or less; repeal TISA's civil liability provisions as of September 30, 2001; and permit disclosure of an annual percentage yield (APY) equal to the contract dividend rate for term share accounts with maturities greater than one year that do not compound but require dividend distributions at least annually.

Source

Authoritative
Federal Register document
Machine
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