Currently some of our home equity line of credit loans have a floor rate of 1%. Senior mgmt has requested that we send out a change in terms notice to members with these loans and advise them that the floor rate has changed to 4%. Is this allowed?

Where would I find the regulation that doesn't allow it? Thanks

This thread has the info you need

Thank you very much. This is exactly what I need. I swear when I try to search I have the greatest difficulty. Have a good weekend