...ascertain the applicant’s ability to fully and promptly repay the loan. The credit union may use an automated loan processing system to conduct this review, subject to the conditions set forth in Section 7, below. Where appropriate, the credit committee or loan officers should provide, or refer appli-cants t...
...pproved loans prohibited. The
credit committee must approve all loans. If the credit union uses an automated lending system, the credit committee must review all loan applications the system has denied and review at least a sample of approved loans to screen for fraud and ensure the automated system is func...
...system has denied and review at least a sample of approved loans to screen for fraud and ensure the automated system is functioning within the lending policies the board has established.
Section 8. Lending procedures. The credit
committee, loan officer, or automated sys-tem determines the required security...
... the board has established.
Section 8. Lending procedures. The credit
committee, loan officer, or automated sys-tem determines the required security, if any, and the terms of repayment for each applica-tion. All lending decisions and loan terms must comply with applicable law and regula-tions, these bylaws...
...scertain the applicant’s ability to fully and promptly repay the loan. The cred-it union may use an automated loan proc-essing system to conduct this review, subject to the conditions set forth in Section 3, below. Where appropriate, the loan officer should provide, or refer applicants to, finan-cial counsel...
.... Loan terms and rates must comply with applicable law and regulations. If the credit union uses an automated lending system, the loan offi-cer must review all loan applications the system has denied, and review at least a sample of approved loans to screen for fraud
and ensure the automated system is func-...
...stem has denied, and review at least a sample of approved loans to screen for fraud
and ensure the automated system is func-tioning within the lending policies the board
has established.
Section 4. Lending procedures. The loan of-
ficer or automated lending system determine the required security, if any, ...
... lending policies the board
has established.
Section 4. Lending procedures. The loan of-
ficer or automated lending system determine the required security, if any, and the terms of repayment for each application. All lend-ing decisions and loan terms must comply with applicable law and regulation, these by...
...rship structure of the FCU.
A
RTICLE VIII. C REDIT COMMITTEE OR LOAN
OFFICERS
Many FCUs now use automated systems
for accepting loan applications, loan under-writing, and loan processing, as permitted by several of the NCUA Office of General Coun-sel’s legal opinions. The bylaws reflect that FCUs may us...
...veral of the NCUA Office of General Coun-sel’s legal opinions. The bylaws reflect that FCUs may use automated lending systems, as long as the credit committee or a loan of-ficer: (1) reviews the loans the automated system granted for fraud and other purposes; and (2) reviews loans the automated system denied...
...ated lending systems, as long as the credit committee or a loan of-ficer: (1) reviews the loans the automated system granted for fraud and other purposes; and (2) reviews loans the automated system denied.
A
RTICLE IX. S UPERVISORY COMMITTEE
i. Nominations: The Act requires that the
FCU’s board appoint t...
...iews the loans the automated system granted for fraud and other purposes; and (2) reviews loans the automated system denied.
A
RTICLE IX. S UPERVISORY COMMITTEE
i. Nominations: The Act requires that the
FCU’s board appoint the members of the Su-pervisory Committee. It is permissible for the board to seek...
5057 results:
Summary: The bill revises bylaws for federal credit unions, establishing details for statutory liens, member obligations, and governance, while emphasizing clarity and flexibility in operations and member relations.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
Keywords (occurrence):
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Summary: The bill mandates financial institutions to provide clear disclosures regarding fees and terms for prepaid accounts. It aims to enhance consumer protection and ensure informed decision-making.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
Keywords (occurrence):
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Summary: The bill outlines general terms for participating state agencies in the Supplemental Nutrition Assistance Program (SNAP), emphasizing benefits non-reduction, tax exemptions on SNAP purchases, and stringent confidentiality for participant information.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
Keywords (occurrence):
automated (1)
Summary: The bill establishes a structured format for banks to provide customer and account data to the FDIC, ensuring accurate tracking of deposit relationships and ownership.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
Keywords (occurrence):
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Summary: The bill establishes License Exception ENC to facilitate the export and reexport of encryption commodities and software while imposing restrictions on certain countries, enhancing compliance for U.S. exporters.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
Keywords (occurrence):
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Summary: The bill outlines the file structure for debits and credits processing related to FDIC-insured accounts, detailing account identification, hold actions, and required data formats for efficient management.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
Keywords (occurrence):
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Summary: The bill outlines regulations ensuring accessibility and non-discrimination for passengers with disabilities in air travel, detailing specific services carriers must provide and procedures for complaint resolution and employee training.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
Keywords (occurrence):
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Summary: The bill proclaims September 13-19, 2020, as Minority Enterprise Development Week, celebrating the contributions of minority-owned businesses and committing to their growth and support amid economic recovery efforts.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
Keywords (occurrence):
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Summary: The bill establishes model disclosures and notices related to bank availability policies and substitute check policies to ensure compliance with Regulation CC, promoting transparency in fund availability for depositors.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
Keywords (occurrence):
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Summary: Proclamation 9983 enhances vetting processes for foreign nationals seeking U.S. entry, implementing travel restrictions on six new countries identified as security risks while maintaining existing limitations.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
Keywords (occurrence):
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Summary: The bill formalizes the responsibilities of the Assistant Secretary for Administration at the USDA, detailing authority over human resources, procurement, and compliance with environmental standards, among others.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
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Summary: The bill outlines the regulations under the Community Reinvestment Act (CRA), focusing on the evaluation of banks' performance in meeting community credit needs, particularly for low- and moderate-income areas, and provides mechanisms for public involvement and compliance assessment.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
Keywords (occurrence):
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Summary: The bill outlines regulations for funds transfers under Article 4A, detailing liability, interest compensation, payment orders, and security procedures, ensuring clarity and consistency in banking transactions.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
Keywords (occurrence):
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Summary: The bill establishes a uniform test method for measuring energy consumption of refrigeration products, ensuring compliance with energy conservation standards and facilitating waivers for manufacturers during interim periods.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
Keywords (occurrence):
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Summary: The bill outlines the data structure and format requirements for deposit files submitted to the FDIC, ensuring accurate account information for insurance determinations.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
Keywords (occurrence):
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Summary: The bill establishes rigorous testing standards for command control systems used in launches, ensuring functionality and safety through acceptance and preflight tests, with detailed reporting requirements for compliance.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
Keywords (occurrence):
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Summary: The bill establishes a framework for Federal agencies to request waivers for energy conservation procedures, set energy goals, and implement measures to improve energy efficiency and reduce consumption.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
Keywords (occurrence):
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Summary: The CFR Index bill provides a comprehensive index for locating federal regulations in the Code of Federal Regulations by subject or agency, enhancing navigation and accessibility for the public.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
Keywords (occurrence):
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Summary: The "CFR Index and Finding Aids, 2021" bill provides a comprehensive index and reference tools for navigating the Code of Federal Regulations, aiding users in locating federal regulations by subject or agency as of January 1, 2021.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
Keywords (occurrence):
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Summary: The bill establishes standardized operation and maintenance expense accounts for Rural Utilities Service (RUS) borrowers, detailing costs for various power generation, transmission, and distribution activities.
Collection: Code of Federal Regulations
Status date: Jan. 1, 2021
Status: Issued
Source: Office of the Federal Register
Keywords (occurrence):
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