WASHINGTON—NCUA will share a quarterly report on the National Credit Union Share Insurance Fund (NCUSIF) and will vote on a final rule to reform loans and lines of credit to credit union members at its open board meeting Thursday.
The meeting is set to begin at 10 a.m. ET. CUToday.info will provide complete coverage.
The board issued the loans to members proposal last year that would, among other things, make explicit the maturity date for a "new loan" and is seeking comments on possibly provide longer maturity limits for one-to-four family real estate, home improvement, mobile home and second mortgage loans.
It would also streamline regulations regarding loans by identifying in one section all of the various maturity limits applicable to federal credit union loans, and clearly express the limits for loans to a single borrower or group of associated borrowers, NAFCU noted in its analysis.