WASHINGTON, Dec. 29 -- National Credit Union Administration has issued a proposed rule called: Limits on Loans to Other Credit Unions.
The proposed rule was published in the Federal Register on Dec. 29 by Melane Conyers-Ausbrooks, Secretary of the Board.
Summary: The NCUA Board (Board) seeks comment on a proposed rule to remove the regulations related to approval and policies on making loans to other credit unions. While this provision will no longer be codified in regulation, Federal Credit Unions would remain subject to statutory requirements related to making loans to credit unions. Federally insured state-chartered credit unions would remain subject to any other applicable NCUA or state law or regulation.
For more information, contac...