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Wisconsin Office of CUs to hold public hearing on loan participation contract rule

MADISON, Wis. - The Wisconsin Office of Credit Unions will hold a public hearing Dec. 10 to consider creating a rule pertaining to certain loan participation contracts. The proposed rule would amend a rule currently in effect by removing parity provisions and by modifying an originating lender requirement. The rule,...

By Staff Writer | Updated on November 26, 2002

MADISON, Wis. – The Wisconsin Office of Credit Unions will hold a public hearing Dec. 10 to consider creating a rule pertaining to certain loan participation contracts. The proposed rule would amend a rule currently in effect by removing parity provisions and by modifying an originating lender requirement. The rule, according to the Office of Credit Unions “facilitates state-chartered credit unions to engage in certain loan participation contracts.” An analysis of the rule showed that its promulgation will have no state fiscal effect and there are no local government costs or long-range fiscal implications.

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