ALEXANDRIA, Va. (1/16/14)--Amendments to member business lending (MBL) regulations could be proposed by a National Credit Union Administration committee early this year, the National Credit Union Administration's Office of General Counsel said in its review of agency regulations.
The OGC recommended that MBL regulations "should be revisited and updated to reflect the current business climate and to address certain other pressing issues facing credit unions." The Credit Union National Association has been urging the agency to provide more flexibility to credit unions under its MBL rule.
The OGC said the agency could consider:
Appraisals and the Central Liquidity Facility are also addressed in the document. The general counsel recommended that the agency eliminate any redundant requirements on credit unions to provide copies of appraisals upon request. Technical changes to CLF language were also suggested.
Other items on the list include:
The NCUA reviews all of its rules every three years, scheduling a look at about one-third of its rules each year on a rotating basis. The 2014 list of regulations up for review has not been released.
The agency says its goal is to ensure that all regulations are clearly articulated and easily understood, a goal that the Credit Union National Association endorses.
The CUNA Councils last year reviewed the listed rules and filed comments with the agency. CUNA continues to advocate for a reduction in regulatory burden and other changes that would increase regulatory relief for credit unions.