TISA / NCUA – Under TISA and the NCUA’s regulation, what are the periodic statement requirements?

Compliance > Regulation DD - TISA
Q:  Under TISA and the NCUA’s regulation, what are the periodic statement requirements?
 
A:     As the Official Staff Interpretations state, credit unions are not required to provide periodic statements (under this regulation).  However, if they do provide periodic statements, disclosures need only be furnished to the extent applicable. 
 
If a credit union does provide periodic statements, the statement shall include the following disclosures:
 
  • Annual percentage yield earned
  • Amount of dividends
  • Fees imposed
  • Length of period
  • Aggregate fee disclosure
     
     
     
ADDITIONAL INFORMATION
 
 

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