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NCUA rule expands business lending to non-members
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Corporate Governance, Financial Stability, Nonbank Financial
Friday, February 19, 2016
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The divide between credit unions and community banks has grown wider. The National Credit Union Administration approved a final rule that will give federally insured credit unions more flexibility and autonomy to offer business loans to members and non-members, eliminating the current member-business loan waiver process. The move was applauded by the Credit Union National Association but not by the Independent Community Bankers of America.
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