NCUA Delays Loan Participation Rule Effective Date
On July 3, the NCUA issued a press release indicating that their Board unanimously voted to extend the effective date of the new loan participation rule (Parts 701 and 741) from July 25 to Sept. 23. Just last week, the NCUA published their final rule regarding loan participations, summarized recently in Monitor.
The NCUA plans to issue guidance to credit unions prior to this new effective date. The NCUA’s press release can be found here.
Submissions to Monitor may be emailed
. Bryan Laviolette is the editor of Monitor. Contact him by email
or call (800) 262-6285, ext. 233. The newsletter of the Michigan Credit Union League is published Monday mornings or Tuesday mornings when Monday is a holiday. There is no Monitor the week after Christmas and the week after the Annual Convention and Exposition. The MCUL reserves the right to edit submissions for clarity and space.