ALEXANDRIA, Va. — Federally insured credit unions could only purchase loan participations from a single originator totaling no more than 25% of the credit union's net worth, according to a proposed rule the NCUA Board sent out for comment Thursday.
The rule also would limit purchases involving one borrower to 15% of the credit union's net worth, the NCUA Board said at its December meeting at its Alexandria, Va., headquarters on Thursday morning.
There is no waiver provision for the 25% limit but the 15% limit can be waived by a regional director of the agency.
There is a 60-day comment period on the proposed rule.
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