Reg Z Update – Some Loan Adjustments

We installed an update for some credit unions over this last weekend (September 12/13) with the remainder to install over the next few days. This update is for 'Opt In' credit unions (Those credit unions that did not specifically opt out of the Reg Z loan changes).

The update checks the weekly, bi-weekly, and semi-monthly loans on your system for a payment from August 28, 2009 through August 31, 2009, that still has a next payment due that is in August 2009.

If these conditions are met, the system advances the due date into September 2009, and the partial payment amount is adjusted. This returns these particular loans to the proper cycle for September and prevents them from appearing past due when, in fact, they have made all their respective payments for August.

Please address any questions concerning this posting only to the CBS Issue Tracking System. Please don't call or send e-mails.