Washington State Director of CUs submits proposed MBL rule to NCUA RD

OLYMPIA, Wash. - Talks are underway between Parker Cann, director of credit unions, Department of Financial Institutions, and Robert Blatner Jr., NCUA Region VI Director to iron out areas of concern Blatner has with a proposed member business lending rule. Cann is a member of the Washington Credit Union League's member business lending task force. The proposed rule was crafted by members of the committee including Stacy Augustine, director of government affairs, and other credit union representatives. The proposed rule was sent to Blatner in the end of May. Cann said Blatner subsequently indicated to him five areas of the rule he was concerned with. Cann described the concerns as "not substantive" and said he and Blatner were "talking by email" to work out the problem areas. Cann anticipates the proposed rule will be ready to be sent to the NCUA Board by the beginning of August. Of the 100 state-chartered credit unions in Washington State about 20 of them make MBLs, Cann said. Of these only two qualify for NCUA's aggregate MBL exemption. -ekingoff@cutimes.com

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