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January 12, 2023

New on the Compliance Blog: Posting rates online

Regulatory Compliance with magnifying glassAs credit unions work to meet the needs of more than 134 million Americans, NAFCU's award-winning regulatory compliance team continues to keep credit unions informed with new posts on the Compliance Blog every Monday and Wednesday. In addition to the blog earlier this week on new California laws that could impact credit unions, the latest post covers posting rates online.

As credit unions are not required to post rates on their websites, NAFCU Regulatory Compliance Counsel Tara Simpson reviews advertising regulations that apply should they choose to. Simpson outlines requirements for tiered-rate and stepped-rate accounts, as well as representative examples.

For more information on the terms, disclosures, and other considerations for posting rates online, view Simpson’s blog.

In case you missed it, NAFCU Director of Regulatory Compliance Nick St. John published a blog earlier this week on California laws – related to the Military Lending Act and the state’s financial code – that could impact credit unions. NAFCU’s Regulatory Committee also discussed the laws and which credit unions could be covered by them during a meeting Tuesday.

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