Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NCUA seeks comments on ways to improve MBL reg
ALEXANDRIA, Va. (6/20/08)--The National Credit Union Administration (NCUA) Board Thursday voted to seek comment on an advance notice of proposed rulemaking on Part 723, Member Business Loans (MBLs). As discussed at the meeting, the agency has received a number of concerns about the rule and suggestions for improving it. The Credit Union National Association (CUNA) has repeatedly sought revisions in the rule in areas that are not dictated by statutory requirements, such as the loan-to-value ratios and the waiver provisions. The issues the board is requiring comments on are whether the MBL rule should be clarified and revised in the following areas:
* Loan-to-value ratio requirements; * Collateral and security requirements; * Credit union service organization involvement in the MBL process; * MBL loan participation; and * Waivers.
NCUA is also seeking comments on any other aspect of the rule. "While we will be reviewing the proposal, the advance notice represents the kind of regulatory approach that is positive and much needed in the current climate of overregulation," said CUNA's Deputy General Counsel Mary Dunn. CUNA's comment letter will be developed with the CUNA Federal Credit Union Subcommittee and CUNA Lending Council. The comment period is 60 days. A CUNA Comment Call on the notice will be available shortly on CUNA's Regulatory Advocacy website.


RSS





print
News Now LiveWire
Registration lottery for #CreditUnion #CherryBlossom Ten Mile Run opens Monday, Dec. 1 http://t.co/AGkKPof5Fy. Race is April 12
20 hours ago
The turkey hasn't even been served and #creditunions are already making plans for #GivingTuesday
21 hours ago
.@bankofamerica's $16.65 billion 'toxic mortgage' settlement finalized http://t.co/BIq1QyImXG
23 hours ago
RT @CUNA: #NussleReport: ICYMI: Revised RBC proposal in January w/a 90-day comment period #Fix RBC http://t.co/T4JcvWBDse
1 Day ago
.@TheNCUA release on Nov. prohibition orders out already. Here: http://t.co/YkA1QIYbYa
1 Day ago