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: @CUNA-CFA survey results suggest 3-3.5% increase in holiday spending. http://t.co/GjcDvvwfzy
16 hours ago
.@WOCCU promoted financial inclusion as a sustainable development goal at two separate @UN events this month.
17 hours ago
Colo. authorities OK first-ever #marijuana-focused CU #NewsNow http://t.co/77qj6O3bcu
17 hours ago
.@Vancity busts some Black Friday retail myths http://t.co/q8Wht3CcRc
18 hours ago
Things get hairy at #creditunions during #Movember http://t.co/Hc6tYRMSY8
19 hours ago