NCUA Board Meeting Agenda Set; NAFCU Reg Alert on Reg Z (HOEPA) Amendments Available
NCUA has released the agenda for this week's NCUA Board Meeting. You can access it here. What's on the agenda?Â
- NCUA will issue an ANPR for Parts 708 and 708(b), which cover mergers and conversions. (Sort of a hot topic in the past year or so.)
- The NCUA usury ceiling.
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NAFCU members: NAFCU's Regulatory Affairs Division has released a regulatory alert on the Fed's proposed rule to amend Regulation Z. You can access it here. Here's a brief description of the proposal:
Under the Home Ownership and Equity Protection Act (HOEPA), which amended the Truth in Lending Act, the Board is authorized to prohibit unfair or deceptive acts and practices in connection with mortgage lending. Accordingly, the proposed amendments would prohibit certain unfair, abusive or deceptive practices in connection with closed-end mortgage loans. The proposal is intended to focus particularly on abuses in the subprime mortgage market, while generally excluding the prime market.Â