NAFCU's Book of Answers is updated, and it is better than ever! NAFCU members can access it here. For you non-NAFCUers, here's a taste:
Question: We have a truth-in-savings disclosure which has the shares/share draft/Christmas club and IRA rates on it. If a member only wishes to open a basic share account, is it necessary for all the rates to be listed for each product?
Answer: No. But many do so for the sake of consistency, convenience and marketing the credit union's other products. Such disclosures are governed by NCUA's Truth-in-Savings regulation. It indicates that credit unions may make disclosures for each account offered by the credit union "separately or combined with disclosures for the credit union's other accounts, as long as it is clear which disclosures are applicable to the member's account." 12 C.F.R. 707.3(a).
Even with the turnover at the helm of HUD, it seems that they are still trying to get a final REPSA reg before the end of the Bush Administration.
After a long and productive weekend of moving, storage runs and organizing, Mandy and I sat down Sunday evening to watch Charlie Wilson's War. Movers had been in and out during the day, and Poe the Cat hid in a closet and didn't take off even though the front door was open quite a bit. I was very familiar with Charlie Wilson and the book, so I was pretty excited to watch the flick. And I tend to ramble on about such things. So I kept talking about the movie while it was on, but Mandy kept talking about Poe.
After the movie, which detailed the fall of the Soviet empire, the Soviet defeat in Afghanistan, and the larger-than-life story of Charlie Wilson, I looked over and said the following.
Compliance Guy: "Wow, wasn't that amazing?"
Mandy: "Yeah. The door was open all day, and Poe didn't run out." (Pause) "Oh, did you mean the movie?"