WASHINGTON (7/7/08)—As part of its policy to review all existing regulations every three years, the National Credit Union Administration (NCUA) is seeking comment on how its member business lending (MBL) rules should be revised or clarified. The Credit Union National Association has issued a request for comments by August 14 on all aspects of the NCUA MBL rules, while highlighting the areas of specific interest to the agency. The NCUA issued the advance notice of proposed rulemaking at its May meeting and noted it is specifically reviewing the following provisions:
* Loan-to-value (LTV) ratio requirements; * Collateral and security requirements; * Credit union service organization (CUSO) involvement in the MBL process; * MBL loan participations; and * Waivers.
Comments are due to the agency by August 25. CUNA Deputy General Counsel Mary Dunn said CUNA, working with leagues and key committees and subcommittees, will be reaching out early in the comment period to other credit union officials with MBL expertise and concerns to ensure its comment letter addresses the range of MBL issues. Use the resource link below for more information on the NCUA proposal and for CUNA’s complete comment call.