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News Now

Washington
NCUA to seek comment on MBL changes
ALEXANDRIA, Va. (6/19/08)—The National Credit Union Administration (NCUA) has one item on its agenda for today’s open board meeting and that an Advanced Notice of Proposed Rulemaking regarding member business loans, Part 723 of the federal regulator's rules and regulations. The agency is expected to ask for comment on whether the NCUA should make changes to its rules that govern loan-to-value (LTV) and waiver requirements. In 2007 comment letter to the NCUA regarding the reduction of regulatory burdens on credit unions, the Credit Union National Association urged the agency to change the MBL rule to allow items such as LTV requirements to be set by credit unions rather than in the regulation. After today, the NCUA’s meeting schedule takes on its summer routine. The agency’s next open session is planned for July 24. There is no meeting scheduled for August and then the regular monthly schedule resumes on Sept. 25.
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