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Third-Party Servicing of Indirect Vehicle Loans

NCUA · final-rule · Published 2006-06-28 · Effective 2006-07-28 · 71 FR 36661

Document

Document number
E6-10137
Federal Register citation
71 FR 36661
CFR reference
12 CFR 701
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US National Credit Union Administration
Publication date
2006-06-28
Effective date
2006-07-28

Abstract

The National Credit Union Administration (NCUA) is issuing a final rule to regulate purchases by federally insured credit unions of indirect vehicle loans serviced by third-parties. The rule limits the aggregate amount of these loans serviced by any single third-party to a percentage of the credit union's net worth. The rule ensures that federally insured credit unions do not undertake undue risk with these purchases.

Source

Authoritative
Federal Register document
Machine
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