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Only Days Left to Comment on NCUA's MBL Proposal
Friday, August 28, 2015 7:00 AM

The National Credit Union Administration's member business lending proposal remains open for comments until Monday, Aug. 31. Bankers are well aware of this deadline too, and they're making the most of it. We must counterbalance their off-base complaints about the beneficial aspects for credit unions in this proposal.

A favorable member business lending climate is beneficial to all credit unions. While the NCUA suggests that this proposal shifts the agency's approach from prescriptive rules to a more flexible approach, it is critical that the agency hears specific comments from credit unions as to how the provisions of this rule will affect their operations.

Cornerstone is in the process of drafting its comment letter. You can get help in writing yours on Cornerstone's Compliance Comment Call web page.

It's critical for credit unions to voice their individual concerns and observations with regulatory proposals. The full proposal may be read here.  

Again, comments can be submitted to NCUA through Aug. 31, and Cornerstone urges credit unions to do so. If you need help or have questions, please contact Cornerstone SVP Regulatory Compliance Counsel Suzanne Yashewski at 512-853-8516, 800-442-5762, Ext. 8516, or syashewski@cornerstoneleague.coop.