WASHINGTON, March 25 -- National Credit Union Administration has issued a proposed rule called: Third-Party Servicing of Indirect Vehicle Loans.
The proposed rule was published in the Federal Register on March 25 by Melane Conyers-Ausbrooks, Secretary of the Board.
Summary: The NCUA Board (Board) is seeking comment on a proposed rule that would remove the NCUA's unnecessarily prescriptive regulation regarding third-party servicing of indirect vehicle loans. This action would reduce regulatory burden and provide credit unions with greater operational flexibility, consistent with a principles-based supervisory approach. The intent is to reduce administrative costs and compliance complexity, enabling credit unions to serve their members more...