NAFCU President/CEO Fred Becker criticized the NCUA for providing "insufficient justification" when making its decisions to eliminate certain exemptions for credit unions that are eligible for the agency's Regulatory Flexibility program.
In a letter to NCUA Chairman Debbie Matz, Becker wrote that he was especially concerned about the decision to require a personal guarantee on all member business loans.
The RegFlex program gives federal credit unions that are well-capitalized and have CAMEL 1 and 2 ratings exemption from certain regulatory requirements.
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