NASCUS coverage: An eye on indirect loans
Declining auto sales combined with credit unions posting record indirect lending numbers has some state credit union regulators taking a hard look at the indirect auto loan portfolios at credit unions.
That was one theme expressed by state regulators interviewed by CUToday.infoduring the State System Summit hosted by the National Association of State Credit Union Supervisors (NASCUS).
One examiner is cautioning that while credit unions should remain optimistic about indirect lending, they need to be very “diligent” with this book of business.
Shawn Burcham, senior examiner at the Oklahoma State Banking Department, told CUToday.info that the booming indirect growth is good for credit unions as long as they are proceeding carefully.
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