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.

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

  • 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.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.