NCUA’s new member business lending rule, effective Jan. 1, is one of the biggest changes to credit union business lending in decades. The agency received hundreds of comments from credit unions supporting the proposal and outlining how it would help them better serve their members.
The NCUA Board authorized the creation of a Loss Share Pilot Program as a potential option for resolving large, complex problem credit unions at the lowest cost to the National Credit Union Share Insurance Fund.
A question was recently posed to CUNA’s compliance staff about the Right to Financial Privacy Act. Specifically, what type of documentation is required from a federal government agency when it requests financial information on a member?