Member business loan ANPR issued
The NCUA Board issued an advance notice of proposed rulemaking on Part 723, Member Business Loans (MBL), to consider clarifying and revising rule provisions that include 1. loan-to-value ratio requirements; 2. collateral and security requirements; 3. credit union service organization involvement in the MBL process; 4. MBL loan participation; and 5. waivers.
Issued with a 60-day comment period, NCUA encourages comments on these and additional MBL rule revisions commenters wish to address.
Board votes are unanimous unless otherwise indicated