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
July issue of @TheNCUA Report is now available at: http://t.co/UD8EP3vr2E.
30 minutes ago
The Hill reports frmr Rep. Barney Frank will defend Dodd-Frank Act tomorrow at House Fin Serv hearing on impact 4 yrs after enactment.
52 minutes ago
.@pressrepublican lauds @DannemoraFCU for shred fest: 'truly important in this era of identity theft' http://t.co/hnJUBO1iSR
1 hours ago
Consumers stashing #cash in checking accounts: Moebs #NewsNow http://t.co/WPaPkzHufK
1 hours ago
.@CUANYtweets hiking the Hill today with young #creditunion professionals http://t.co/9xgH2Aw2OM
1 hours ago