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ALEXANDRIA, Va.-NCUA Associate General Counsel Sheila Albin wrote in an official opinion letter that while NCUA could not provide an opinion on the validity of a Processors Liability Policy, which J.T. Miller Company, Inc. said can be substituted for a title search and is marketing to credit unions, the agency found no law prohibiting credit unions from purchasing coverage. The insurance is designed to protect a lender’s lien position.

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