WASHINGTON (6/18/15)--Among the six issues on today’s agenda for the National Credit Union Administration’s open board meeting is member business lending--a topic noted by Chair Debbie Matz as part of the agency’s regulatory relief efforts this year.
During CUNA’s Governmental Affairs Conference in March, Matz told the nearly 5,000 attendees that the agency planned to eliminate the business loan waiver process.
"Determining whether to exempt a borrower from a personal guarantee is something that your loan officers should do, based on your prudent underwriting criteria,” Matz said (News Now March 9).
“We are going to move away from defining highly prescriptive, one-size-fits-all business loan underwriting requirements.
"The bottom line is: You know your members' needs better than we do. Our business lending rules need to reflect that," she added during her presentation.
Member business lending is the final item on an agenda that also includes:
The meeting, which begins at 10 a.m. (ET), will be available to livestream via a link on the NCUA’s home page, NCUA.gov, 15 minutes before it begins.