National Credit Union Administration March 14, 2016 – Federal Register Recent Federal Regulation Documents
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Agency Information Collection Activities: Proposed Collection; Comment Request; Vendor Registration Form
The NCUA, as part of its continuing efforts to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on an extension of a currently approved collection, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). The NCUA is soliciting comments on its Vendor Registration Form.
Member Business Loans; Commercial Lending
As part of NCUA's Regulatory Modernization Initiative, the NCUA Board (Board) is amending its member business loans (MBL) rule to provide federally insured credit unions with greater flexibility and individual autonomy in safely and soundly providing commercial and business loans to serve their members. The final amendments modernize the regulatory requirements that govern credit union commercial lending activities by replacing the current rule's prescriptive requirements and limitationssuch as collateral and security requirements, equity requirements, and loan limitswith a broad principles-based regulatory approach. As such, the amendments also eliminate the current MBL waiver process, which is unnecessary under a principles-based rule.
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