Research Tip; NCUA Newsletter; Private Student Loans
Posted by Anthony Demangone
Yesterday, I spoke about how the Government Printing Office has an online version of the Code of Federal Regulations. Well, thanks to a tip, I was reminded that they have an electronic version that is updated nearly every day.  Â
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NCUA has released the latest NCUA newsletter. The issue discusses NCUA's progress on its Office of Consumer Protection. The office will be responsible for:Â
1. Consumer compliance policy, program and rulemaking;
2. Fair lending examinations;
3. Interagency liaison for consumer protection and compliance issues;
4. Member complaint call center;
5. Financial literacy programs; and
6. Ombudsman duties.
The newsletter also notes that NCUA's new website design is new and improved, and helps navigation. They obviously didn't ask for my input. The issue also has a short piece on NCUA's General Counsel's Office, as well as a few pieces on risk management.
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When thinking about the Fed's recent changes to Reg Z concerning private student loans, don't forget about consolidation loans. This comes from the Staff Commentary:
46(b)(5) Private education loan.
1. Extended expressly for postsecondary educational expenses. A private education loan is one that is extended expressly for postsecondary educational expenses. The term includes loans extended for postsecondary educational expenses incurred while a student is enrolled in a covered educational institution as well as loans extended to consolidate a consumerâÂÂs preexisting private education loans.