|
|
Article: NCUA Re-Ups Push for CUs To Do More Biz Lending.(U.S. National Credit Union Administration, credit unions )
- Article from:
- American Banker
- Article date:
- April 2, 2003
- Author:
CopyrightCOPYRIGHT 2003 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
On the heels of its decision to dramatically loosen its field-of-membership rules -- making it easier for federal credit unions to adopt all-inclusive community charters -- the National Credit Union Administration has proposed a series of sweeping changes to its business-lending regulations.
The new rules would let the more than 6,000 federal credit unions make unsecured business loans, raise the loan-to-value limit on loans for trucks, tractors, and other business vehicles from 80% to 100%, and permit Credit Union Service Organizations -- for-profit subsidiaries owned by credit unions -- to originate business loans.
Moreover, shares of loans purchased from service ...