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The NCUA board approved the final MBL rule in its meeting on Thursday. The new rule will go into effect on Jan. 1, 2017 and it is a complete overhaul of the previous rule. During the comment period of the meeting, Chairman Debbie Matz said the rule ushers in a new era of business lending for the NCUA and credit unions.
The NCUA has resources to show the changes in the rule including a summary of the changes, the board memorandum, and the complete final rule.
