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Many Ways to Submit Comments on NCUA's Proposed MBL Rule
Thursday, August 27, 2015 7:00 AM

Now is the time to submit your comment letters regarding National Credit Union Administration's proposed member business lending (MBL) rule. With the onslaught of banker's letters protesting its benefits for credit unions, we need to counterbalance the negative with the positive. The deadline for comments is Aug. 31.

How can you submit your comment letter?
Easy, and you have your choice of ways to submit it. First, remember to share your comments with Suzanne Yashewski (syashewski@cornerstoneleague.coop) so that we can track comments from members and incorporate your thoughts into the letter submitted by Cornerstone. You can submit comments in any of the following ways:

  • Go to PowerComment and follow the instructions.  On PowerComment (www.powercomment.org), you will find a series of questions to consider and also some draft text for a comment letter.
  • Go to the Federal eRulemaking Portal: www.regulations.gov. Follow the instructions for submitting comments.
  • NCUA Website: www.ncua.gov/Legal/Regs/Pages/PropRegs.aspx. Follow the instructions for submitting comments. 
  • Email to regcomments@ncua.gov.  Include ‘‘[Your name]— Comments on Proposed Rulemaking for Part 723’’ in the email subject line.
  • Fax: 703-518–6319. Use the subject line described above for email.
  • Mail: Address to Gerard S. Poliquin, Secretary of the Board, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314– 3428.    

Encourage your members to comment, too!
Please also encourage your members, particularly your small business members, to send a short message to NCUA as well. Voter Voice is a portal that allows credit union members, employees and volunteers to send a message to NCUA that is supportive of credit union small business lending. On Voter Voice, there are a series of letters that can be sent, or individuals can draft their own message. Again, the bankers are making their views known. We strongly encourage you to ask your members, employees, and volunteers to send a message to NCUA on this proposal. 

What should my letter say?
Your letter can be as short and simple as just a few sentences supporting the proposal in general and commending NCUA for easing regulatory burdens in this area. Or, feel free to address any specific issues or suggestions that you have after reading through the summary.  As a reminder, comments can be provided in a simple email and do not have to address every aspect of the proposal. See sample letters on Cornerstone's Comment Call website page.

Need more help?
Feel free to contact Suzanne Yashewski, Cornerstone SVP regulatory compliance counsel at (512) 853-8516 or syashewski@cornerstoneleague.coop