|Title:||Financial Innovation: Loan Participations, Eligible Obligations, and Notes of Liquidating Credit Unions|
|Subject:||Fintech; indirect lending, eligible obligations|
The NCUA Board (Board) is seeking comment on a proposed rule that would amend the NCUA’s rules 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 proposed rule is intended to clarify the NCUA’s current regulations and provide additional flexibility for federally insured credit unions (FICUs) to make use of advanced technologies and opportunities offered by the financial technology (fintech) sector. The proposal would also make conforming amendments to 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 proposal would make other conforming changes and technical amendments in other sections of the NCUA’s regulations. The Board does not view these conforming and technical changes as substantive.
|Date proposed:||Dec. 15, 2022|
|Comments due date:||Feb. 28, 2023|
|Rule compliance date:|
|Related Reg Report item(s):|