CDs and the 2% rule for loans
Posted By:
Patricia
CDs and the 2% rule for loans -
04/12/17
07:46 PM
Can someone tell me when the requirement regarding the rule for CDs held as collateral, the note rate could only be 2% over the rate on the CD? Thanks.
Posted By:
Richard Insley
Re: CDs and the 2% rule for loans -
04/12/17
07:53 PM
This was eliminated in the 1980s? (Also check your state law.)
Posted By:
Patricia
Re: CDs and the 2% rule for loans -
04/12/17
08:55 PM
Thanks Richard.
Posted By:
Always In Training
Re: CDs and the 2% rule for loans -
04/13/17
01:16 PM
We are (currently) 3% over. So, yeah, check your state & local laws, but it isn't a federal rule anymore.