National Consumer Cooperative Bank Amendments of 1989

Law Consumer protection Law

Date: 7th Dec, 1989 Source: Congress.gov Country: USA Original Source

Brief

The National Consumer Cooperative Bank Act was amended to modify provisions relating to class A notes issued by the bank. The amendment changed the interest rate calculation method and allowed the bank to issue replacement notes under certain conditions. Additionally, it mandated that all class A notes be redeemed by October 31, 2020. This legislation aimed to reform the existing system for paying interest on and redeeming these specific type of notes issued by the National Consumer Cooperative Bank.

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Brief

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Brief

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