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CUNA informs CUs of need-to-knows ahead for MBL changes

"WASHINGTON (3/28/16)--With the National Credit Union Administration’s (NCUA) member business lending (MBL) rule finalized, all that’s left is for credit unions to gain an understanding of how the rule will affect them. The Credit Union National Association’s (CUNA) compliance staff has put together a CompNote on the rule, which is now available.

The rule, which becomes effective Jan. 1, 2017, completely overhauls the NCUA’s MBL regulations, removing almost all MBL requirements not present in the Federal Credit Union Act. The NCUA called the approach a “broad, principles-based regulatory approach,” and it is predicated on the expectation that credit unions will maintain prudent risk management processes and sufficient capital commensurate with risk".

Read More :CUNA informs CUs of need-to-knows ahead for MBL changes | 2016-03-28 | CUNA News:


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