NCUA Modifies NCUA Rules & Regulations Part 702 and 723

Wednesday, June 13, 2018

The NCUA board elected to change rules due to a modification of the Federal Credit Union Act by the  signed by President Trump on May 24th.  The rules are effective June 5, 2018.  Details of the changes are highlighted below.

  • Removed all 1 - to 4 - family dwellings from the definition of a Member Business Loan (MBL).  The previous rule only excluded owner-occupied properties from the MBL definition.
  • Made technical changes to Part 702, Prompt Corrective Action to amend outdated citations.

Additional information on this change

Printed from the website on September 29, 2020 at 10:35pm.