ALEXANDRIA, Va. (2/25/13)--The National Credit Union Administration has clarified the what, when and how of member business loan (MBL) waivers in a new letter to credit unions (13-CU-02), an attached supervisory letter, and supervisory guidance.
The guidance will help credit unions understand the MBL waiver process, and aid them as they work to maintain safe and sound MBL portfolios, NCUA Chairman Debbie Matz said.
This is the first time the agency has released these types of MBL waiver documents. Matz noted that the release of the documents was prompted in part by discussions at agency listening sessions held throughout the country.
The agency guidance details what must be included in a waiver application and how the agency reviews that application.
The guidance also addresses:
For the NCUA MBL waiver documents, use the resource links.