LAS VEGAS — With descriptions such as "frighteningly vague," a backlash against the criteria for member business loan waivers swelled on Thursday afternoon.
During a session on MBL program updates held during NACUSO's annual conference at the Encore Las Vegas, Vin Vieten, NCUA program officer for member business lending, listened to the frustrations from some of the attendees on the waivers.
According to the NCUA, credit unions have the right to request waivers from certain parts of the agency's rules and regulations. The waivers fall into two categories: an individual transaction waiver for an individual or specific list of loans and a blanket waiver of a specific regulatory requirement.
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