On August 31, 2015 NAR submitted comments to National Credit Union Administration (NCUA) regarding the agency's proposed rulemaking on Member Business Loans (MBL); Commercial Lending. NAR appreciates the effort that NCUA is making to update the regulations governing credit unions. The flexibility built into this proposal combined with the statutory backstops and continued regulatory oversight will allow credit unions to be more effective in working with current members and increase their lending activities overall.
The provisions contained in the proposal will result in positive outcomes for the commercial clients of REALTORS® as wellas REALTOR®-owned businesses. The increased flow of lending to small businesses will result in strengthening that growing and important sector of the U.S. economy. Increased availability of lending for construction and development loans will result in ongoing community investment and job development.
NAR Comments to NCUA Regarding Member Business Loans Rulemaking
Issue Date: August 31, 2015
On August 31, 2015 NAR submitted comments to National Credit Union Administration (NCUA) regarding the agency's proposed rulemaking on Member Business Loans (MBL); Commercial Lending. NAR appreciates the effort that NCUA is making to update the regulations governing credit unions. The flexibility built into this proposal combined with the statutory backstops and continued regulatory oversight will allow credit unions to be more effective in working with current members and increase their lending activities overall.