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CUNA seeks comment on CDRLF rule reorganization
WASHINGTON (7/13/11)--The Credit Union National Association (CUNA) is seeking comments from credit unions regarding the National Credit Union Administration's (NCUA) proposed Community Development Revolving Loan Fund (CDRLF) application changes. The NCUA’s CDRLF changes, which were offered during the agency’s May open board meeting, aim to improve transparency and ease credit union use of the fund. The changes also improve the process through which credit unions may apply for loans and technical assistance grants from the CDRLF, clarify the application process, and add reporting and monitoring requirements. CUNA in the comment call asks credit unions if they generally support the CDRLF amendments. Credit unions can also comment on whether the NCUA should be given greater flexibility to make changes and on each specific loan application outside of the regulations, and can suggest any other terms that they believe should be given greater flexibility. CUNA is accepting comments until July 18. For more information, use the resource link.


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