ALEXANDRIA, Va. — Despite the large regulatory proposal on the table, it was not the only item on the NCUA's January board meeting agenda.
Every 18 months, by statute, NCUA has to consider the limit on interest that federal credit unions can charge on loans above the statutorily mandated 15%, and has pegged the rate over the last few years at 18%. The NCUA Board voted to continue at that level.
The credit union interest rate increase will be in place from March 2008 to September 2009.
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