Board Determines Amendment to Wisconsin Member Business Loan Rule Is Permissible

The National Credit Union Administration Board unanimously determined, by notation vote, that an amendment(opens new window) to section DFI-CU 72.02 of the Wisconsin Member Business Loan rule, which defines a “member business loan,” is no less restrictive than the NCUA’s definition of the same, as required by Section 723.10(a) of the NCUA’s Member Business Loan and Commercial Lending rule. This change aligns Wisconsin’s definition of “member business loan” with the NCUA’s definition of the same.