WASHINGTON—The inclusion of NCUA’s new member business lending rules on a congressman’s plans for rules to be “revoked” was “inadvertent,” according to CUNA and the Carolinas Credit Union League.
As CUToday.info was first to report here, Rep. Mark Meadows (R-NC) included the credit union MBL rule on his list titled, “First 100 Days: Rules, Regulations and Executive Orders to Examine, Revoke and Issue.” The credit union MBL rule appeared as item number 213. That list can be found here.
CUNA and the Carolinas Credit Union League are reporting they have met with Meadows’ office and been told the new CU MBL rule will not be targeted.
“As the initial report included the NCUA’s MBL rule, CUNA and CCUL staff promptly set up a meeting with Meadows’ office to learn why, particularly as the rule explicitly aims to foster economic growth, not encumber it,” CUNA reported.
Meadows’ office also stated that the rule was included inadvertently.
“This is another example of CUNA and League cooperation that has led to a positive outcome for the credit union movement,” said Ryan Donovan, CUNA chief advocacy officer. “This type of cooperation continues to be essential in the efforts we continue to pursue to relieve unnecessary regulatory burdens on credit unions.”