WASHINGTON — The comment period on the Department of Defense’s anti-predatory lending regulation has come to a close and credit union organizations, while supporting its intent offered a plethora of recommendations for improvement.

NAFCU stated that credit unions are not part of the problem, but carve out for federally regulated financial institutions is not necessary either at this time. The group noted that the regulation was sufficiently narrow, but that any loans in compliance with the Federal Credit Union Act and NCUA’s regulations should not be covered. NASCUS added that if such a carve out is implemented, state regulated institutions should also get a carve out.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.