LinkedIn conversation from Credit Union Times group brings out the opinions.
Revised NCUA rule discussed at the Regional CUSO Alliance meeting last week in Cincinnati.
With the effective date of the revised loan participation rule less than one week away, credit unions and CUSOs have taken another look at their lending programs to see if any adjustments need to be made.
CUs and CUSOs look at lending programs to see if any adjustments needed before Sept. 23 effective date of new NCUA rule.
Rule was first proposed in December 2011 and first iteration would limit participations from a single originator to 25% of net worth.
The reduced compliance burden, as a result of new NCUA rules introduced during the regulator’s May 24 board meeting, is worth $8 million to federally insured credit unions.