January 3, 2024 - 5:23pm
#1
Several years ago, the NCUA asked our CU about paid ahead loans and whether we were monitoring to make sure borrowers weren't getting more than five payments ahead. I assumed this was based on regulation but now I'm being asked about it and I can't find it a regulation that covers it. Does anyone know if this is covered anywhere or if this is an industry practice or based on state laws? (I suppose it could have simply been an internal policy but I can't find it in there either).
