CUNA backs reg relief, urges NCUA to extend 1-4 maturity limits

NCUA headquarters

CUNA supports NCUA’s proposal to provide regulatory relief through amendments to regulations regarding loans and lines of credit to members. CUNA filed its comment letteron the proposal Tuesday.

“CUNA supports NCUA’s efforts to streamline and organize regulations applicable to credit unions to improve clarity and make compliance easier,” the letter reads. “When supervisory inconsistencies occur among the supervisory office regions, a disparate regulatory landscape exists, rendering challenges and disparities for credit unions. CUNA appreciates the agency’s willingness to engage the credit union industry in dialogue to address rule transparency.”

CUNA also called on NCUA to extend the maturity limit of one-to-four family, non-owner occupied real estate loans past the current 15 years. While such loans were taken out of the member business lending cap due to the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155), the existing maturity limit is still applicable for those loans.

 

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