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Washington
CU MBL Questions Answered In Regulatory Advocacy Report
WASHINGTON (3/26/13)--The Credit Union National Association continues to receive questions following the February release of member business lending (MBL) waiver clarifications, and CUNA addresses some of those questions for its members in the latest edition of the Regulatory Advocacy Report.

To answer the credit union queries, CUNA consulted the National Credit Union Administration's supervisory letter on MBLs. In the report, CUNA details the basics of the MBL waiver process, including:

  • How to request an MBL waiver;
  • What information should be included in a waiver request;
  • How those waiver requests are evaluated; and
  • How waivers for loan participations are obtained.
"CUNA has urged the agency to allow waivers as much as possible absent safety and soundness concerns," Deputy General Counsel Mary Dunn said on Monday.

Issues impacting the banking sector are also addressed, as the Regulatory Advocacy Report discusses final guidance on leveraged lending from the Federal Reserve Board, the Office of the Comp­troller of the Currency, and the Federal Deposit Insur­ance Corporation. A U.S. Government Accountability Office report on community bank failures is also examined in the report.

Other topics covered this week include:

  • Consumer Financial Protection Bureau (CFPB) Regulation E amendments;
  • An NCUA Office of Inspector General report on the failure of Telesis Community Credit Union;
  • The U.S. Treasury Financial Crimes Enforcement Network's work on customer due diligence issues;
  • Washington discussions regarding mortgage market reforms; and
  • CFPB indirect lending oversight developments.
Employees or volunteers of CUNA/state credit union league-affiliated credit unions can sign up to receive the Regulatory Advocacy Report using the link below. The publication is archived on cuna.org.
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