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Truth in Savings

NCUA · final-rule · Published 1999-06-21 · Effective 1999-07-21 · 64 FR 33009

Document

Document number
99-15649
Federal Register citation
64 FR 33009
CFR reference
12 CFR 707
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US National Credit Union Administration
Publication date
1999-06-21
Effective date
1999-07-21

Abstract

The NCUA is adopting as a final rule without change the interim final amendments to part 707 issued by NCUA on December 29, 1998. Those amendments implemented certain statutory changes to the Truth in Savings Act (TISA). Specifically, they modified the rules governing indoor lobby signs, eliminated subsequent disclosure requirements for automatically renewable term share accounts with terms of one month or less, repealed TISA's civil liability provisions as of September 30, 2001, and permitted disclosure of an annual percentage yield (APY) equal to the contract dividend rate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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