ALEXANDRIA, Va. (2/18/16)--The National Credit Union Administration (NCUA) board will vote today on finalizing the agency’s member business lending (MBL) rule, a rule providing much-needed flexibility for credit unions.
The proposed rule would completely overhaul the NCUA’s MBL regulation by removing almost all requirements not in the Federal Credit Union Act.
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.
Also on today’s agenda is a quarterly update on the National Credit Union Share Insurance Fund.
A link to the live video stream of the meeting will be posted to NCUA.gov at approximately 9:45 a.m. (ET), and the meeting is scheduled to begin at 10 a.m. (ET).