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The NCUA proposal to more restrictions on member business loans, investing in fixed assets, and delegating control of investments for participants in regulatory flexibility programs overreaches and places credit unions at a competitive disadvantage, according to CUNA and NAFCU. By contrast, the ABA likes the proposed changes and wants even more restrictions.

CUNA and NAFCU took issue with the requirement that credit unions eligible for regulatory flexibility(RegFlex)-those that are well-capitalized and have CAMEL 1 and 2 ratings-be required obtain the liability and guarantee of the borrower’s principals when making a member business loan.

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