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

December 30, 2022 NCUA, Regulation lookup 0

Title:	Financial Innovation: Loan Participations, Eligible Obligations, and Notes of Liquidating Credit Unions
Subject:	Fintech; indirect lending, eligible obligations
Agency:	NCUA
Status:	Proposed rule
Summary:	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.
FR Doc:	2022-27607
Date proposed:	Dec. 15, 2022
Comments due date:	Feb. 28, 2023
Effective date:
Rule compliance date:
Agency release:
Related Reg Report item(s):	Proposal seeks to open door wider for credit unions to partner with fintechs in lending

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