ALEXANDRIA, Va.–The National Credit Union Administration board has unanimously determined, by notation vote, the definition of “member business loan” in Wisconsin.
According to the agency, the board’s three members agreed an amendment to section DFI-CU 72.02 of the Wisconsin Member Business Loan rule, which defines a “member business loan,” is no less restrictive than the NCUA’s definition of the same, as required by Section 723.10(a) of the NCUA’s Member Business Loan and Commercial Lending rule.
This change aligns Wisconsin’s definition of “member business loan” with the NCUA’s definition of the same, the agency said.