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While acknowledging some credit unions have had problems within their member business lending portfolio over the past year, NACUSO General Counsel Guy Messick questioned whether having a personal guarantee attached to the loans had anything to do with them going sour.

That questioning will be the crux of a comment letter Messick is planning to submit to NCUA after the board passed in March a proposed regulation eliminating four of the 10 regulatory relief items provided to well-capitalized and well-run credit unions as defined under NCUA Regulations Part 742-best known as the “RegFlex” regulation. Initially proposed in 2001, the regulation was intended to eliminate unnecessary regulation for well-performing credit unions.

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