ALEXANDRIA, Va. (2/12/16)--The National Credit Union Administration (NCUA) will vote on a final member business lending (MBL) rule at its Feb. 18 board meeting. Also on the agenda is a quarterly report on the National Credit Union Share Insurance Fund.
The NCUA proposed the MBL rule at its June 2015 board meeting. It would create a category of “commercial” loans for safety and soundness purposes, utilizing the MBL category for compliance with the Federal Credit Union Act’s limitations on member business lending.
The proposal would also remove all specific requirements that currently require waivers and exempt some credit unions with less than $250 million in assets from the board of director and management responsibility requirements and commercial loan policy requirements.
CUNA supports the proposed changes, particularly the agency’s move to a more principle-based methodology from the current prescriptive approach.
The Feb. 18 meeting is scheduled to begin at 10 a.m. (ET), and will be streamed live. A link to the livestream will be on NCUA.gov approximately 15 minutes before the meeting’s start.