Rule finalized in June now to kick in on Sept. 23 instead of July 25, with guidance promised by then.
During his June 27 confirmation hearing, NCUA Board nominee Richard Metsger dodged what might have been his most controversial question. Is raising the member business lending cap a good idea?
For some credit unions and CUSOs, the newly approved changes to the loan participation rule are apt to leave a bittersweet residue within their business loan portfolios.
Eighteen months after it proposed a controversial loan participation rule that would have capped purchases from single originators to just 25% of net worth, the NCUA Board approved a final rule June 20 that significantly relaxed the provision.
Now that the NCUA has approved a final loan participation rule, some are still concerned about some of the long-term impacts.
ALEXANDRIA, Va. —The NCUA Board approved a final loan participation rule on Thursday that creates new limits and retention requirements.
Rule was first proposed in December 2011 and first iteration would limit participations from a single originator to 25% of net worth.
They are the $943 million, 102,000-member Andrews FCU in Suitland, Md., and the $584 million, 32,300-member United States Senate FCU in Alexandria, Va.
LAS VEGAS — Some say credit unions, CUSOs get mixed messages about who's responsible for due diligence in business lending.
Michigan Business Connection LC said the battle shouldn’t spook credit unions in their efforts to aid to small businesses.