ALEXANDRIA, Va.–Today is the deadline for comment on NCUA’s member business lending proposal. The proposal includes a number of components that have already drawn comment from the major trade associations.
The proposal seeks to modernize many of NCUA’s MBL regulations, in large part by removing almost all requirements not in the Federal Credit Union Act and creating a new category of “commercial loans.” NCUA is proposing to remove all requirements that currently require waivers, including the personal guarantee requirement.
The trade groups have been generally supportive of the bulk of the agency’s MBL revisions.
Among the most prolific sources of comment letters on the proposal to date have been banks.