NCUA Issues Letter Regarding Extension of Rate Ceiling
The NCUA has issued a Letter to Federal Credit Unions (15-FCU-20) in which it extends the annual percentage rate ceiling of 18% for most loans and 28% for payday alternative loans for another 18-month period. The letter adds that the NCUA may revisit the rate ceiling before the new expiration date of March 10, 2017, if interest rates move significantly before that time. [6/29/15


