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Financial Innovation: Loan Participations, Eligible Obligations, and Notes of Liquidating Credit Unions

NCUA · final-rule · Published 2023-09-29 · Effective 2023-10-30 · 88 FR 67570

Document

Document number
2023-20950
Federal Register citation
88 FR 67570
CFR reference
12 CFR 701
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US National Credit Union Administration
Publication date
2023-09-29
Effective date
2023-10-30
Docket
NCUA-2022-0185

Abstract

The NCUA Board (Board) is amending the NCUA's regulations regarding the purchase of loan participations and the purchase, sale, and pledge of eligible obligations and other loans (including notes of liquidating credit unions). The final rule clarifies the NCUA's current regulations and provides additional flexibility for federally insured credit unions (FICUs) to make use of advanced technologies and opportunities offered by the financial technology (fintech) sector. The final rule also amends the NCUA's rule regarding loans to members and lines of credit to members by adding new provisions about indirect lending arrangements and indirect leasing arrangements. Finally, the final rule makes certain conforming changes and technical amendments to the NCUA's regulations. The Board does not view the conforming changes and technical amendments as substantive.

Source

Authoritative
Federal Register document
Machine
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