Regulatory & Compliance

In an interview with CU Times, NYC councilman and CU founder Mark Levine says he believes CUs acted in a predatory manner.

"This is an outlandish scenario for anyone who cares about the safety and soundness of the nation's commercial real estate lending system ..."

The rule, as adopted, also would exempt from appraisal requirements certain loans made in rural areas.

While pleased with the decision, credit union trade groups say the proposal still doesn't go far enough.

The much-anticipated hearing is scheduled to take place next Tuesday.

This legislation would cap premium increases at 9% each year, half of what the House bill calls for.