Comments due on NCUA proposal to amend loan regs
The NCUA Board has published [83 FR 39622] to amend its regulations regarding loans to members and lines of credit to members. The proposal would reduce regulatory burden by making amendments to improve clarity and to make compliance easier. The proposal would:
- identify in one section all the various maturity limits applicable to federal credit union loans
- better define the maturity date of new loans
- more clearly express the limits on loans to a single borrower or group of associated borrowers
The NCUA Board also seeks comment on whether it should provide longer maturity limits for certain 1-4 family real estate loans. Comments on the proposal are due October 9, 2018.
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