Even though Congress passed S.2155 in the spring, credit unions across the country are still questioning how this legislation will impact their operations.   To address these challenges, the National Credit Union Association (NCUA) has issued a list of the most frequently asked questions, along with the corresponding answers.  The list highlights the statutory changes impacting topics including member business loans, appraisals, and the Home Mortgage Disclosure Act (HMDA).

The list of frequently asked questions can be found on NCUA’s website.  Additional resources can also be found on CUNA’s Compliance Community discussion boards.  Credit unions may also contact Jen Burke, Regulatory and Legislative Advocacy Coordinator for the MECUL, with additional questions or concerns.