Nussle responds to NCUA proposal on interest capitalization
WASHINGTON, DC (November 19, 2020) — The National Credit Union Administration (NCUA) Board issued a proposal Thursday allowing credit unions to capitalize interest in connection with loan modifications. Credit Union National Association (CUNA) President/CEO Jim Nussle released the following statement:
“We thank NCUA for issuing this proposal which gives credit unions a more member-friendly option to make a loan modification. CUNA strongly supports this option as the pandemic effects will be felt for months and years to come. We hope that NCUA will quickly finalize this proposed rule so that needed pandemic relief is not further delayed.”
About CUNA
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 135 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.
