NCUA Board Agenda: Final Loan Participation Rule under Consideration
Written by JiJi Bahhur, Regulatory Compliance Counsel
The Board Agenda for NCUAâÂÂs board meeting today â June 20, 2013 â is available to view. Although there is very little slated for the open session, there is one matter that credit unions have been awaiting for quite some time: the final Loan Participation Rule. If you recall, the proposal on Loan Participations was originally published in the Federal Register in December, 2011. Then, a final was to be considered by the NCUA in June, 2012, but finalizing the rule was further delayed.Â
The extended delay in finalizing the rule followed after NAFCU issued a Comment Letter to NCUA addressing issues related to the Loan Participation Rule. NAFCUâÂÂs Comment Letters are open to the public and can be viewed here. NAFCU expects there will be substantial changes from the proposal; however, the details wonâÂÂt be available until the board votes and releases the final.Â
The other item on the open board meeting agenda is a proposed Illinois Member Business Loan rule.