Thursday, May 21, 2015

Landmark CU Granted Exception to MBL Cap

Almost a year after denying Landmark Credit Union's request for an exception to the aggregate member business loan (MBL) cap, the Wisconsin Office of Credit Unions approved Landmark Credit Union's application for an exception to the aggregate MBL limit.

On April 8, 2015, the Office of Credit Unions approved Landmark's exception. The credit union can grant MBLs up to 15 percent of its assets.

Kim Santos, Director for the Office of Credit Unions, wrote that the exception can be revoked for safety and soundness reasons. She noted that at Landmark's next exam the Office of Credit Unions will evaluate the new limit of 15 percent of assets.

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