Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Ill. MBL Proposal Is On NCUA's Next Open Meeting Agenda
ALEXANDRIA, Va. (6/14/13)--A proposed Illinois Member Business Loan (MBL) rule is the lone item on the National Credit Union Administration's June open board meeting agenda.

The MBL rule was proposed by that state's credit union regulator, and is similar to the NCUA's current MBL rule. NCUA regulations allow the agency to exempt federally insured, state-chartered credit unions from compliance with MBL rules if the NCUA board determines the state has developed an MBL rule that minimizes risk and accomplishes the overall objectives of NCUA's rule.

Washington, Texas, Wisconsin, Connecticut, Oregon and Maryland have their own MBL regulations on state books.

State supervisory authorities must obtain NCUA regional office and NCUA board approval before their new state credit union regulations can become final.

Supervisory activity considerations will be considered during the closed board meeting.

For more on the NCUA agenda, use the resource link.
RSS print
News Now LiveWire
#NewsNow @MountainAmerica among top 100 worldwide in HR management http://t.co/QqfzOSTkiA
34 minutes ago
Missouri #creditunions embrace Bank on More SUV sweepstakes #NewsNow http://t.co/yjD1qNt68T
43 minutes ago
In letter to Pres Obama, @CUNA CEO @Nussle urges natl action on cybersecurity, breaches #NewsNow http://t.co/rZFzSXWJOP
53 minutes ago
Bank ATM fees continue to climb. Credit unions? Not so much. #NewsNow http://t.co/7nfcqusVuM
2 hours ago
NCUA 2day liquidated Republic Hose Employees FCU,Youngstown,Ohio, after determining the CU was insolvent w/no prospect for viable operations
2 hours ago