NAFCU's Offices Closed Again; MBL Risk Management
Posted by Anthony Demangone
What a week. NAFCU's offices are closed, today. The Fed shut down its Washington, D.C. offices following yesterday's blizzard. As you now probably know, we follow the Fed's lead. NAFCU members - if you need us, please email us at compliance@nafcu.org. We'll do our best to respond remotely.
Oh, no photo today. If you want to know what yesterday looked like, just stare at a blank sheet of white paper. Yes, it was that bad.
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Recently, NCUA issued Letter to Credit Union 10-CU-02. The letter was used to share a Supervisory Letter that NCUA sent to its field staff to provide them an overview of current risks in member business lending. The letter also shares what NCUA considers to be sound risk management strategies. The letter provides a good overview of member business lending, and the risk management ideas could work for general lending as well,in my humble opinion. Add this letter to the library of member business lending guidance documents.  If your credit union does MBLs or is thinking about it, you should read and understand this letter.