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Loans to Members and Lines of Credit to Members

NCUA · final-rule · Published 2019-03-25 · Effective 2019-04-24 · 84 FR 10971

Document

Document number
2019-05186
Federal Register citation
84 FR 10971
CFR reference
12 CFR 701
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US National Credit Union Administration
Publication date
2019-03-25
Effective date
2019-04-24

Abstract

The NCUA Board (Board) is amending its regulations regarding loans to members and lines of credit to members to reduce regulatory burden, improve clarity, and make compliance easier. The amendments make the NCUA's regulations more user friendly by identifying in one section all of the various maturity limits applicable to federal credit union (FCU) loans, stating that the maturity date for a new loan under generally accepted accounting principles (GAAP) is calculated from the origination date of the new loan, and more clearly expressing the limits for loans to a single borrower or group of associated borrowers.

Source

Authoritative
Federal Register document
Machine
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