Monday, December 23, 2019

Wisconsin CU Regulator Removes MBL Cap for Two CUs

The Wisconsin Office of Credit Unions removed the member business loan (MBL) cap for two credit unions -- Summit Credit Union (Madison, WI) and Landmark Credit Union (New Berlin, WI).

The aggregate MBL cap for Wisconsin credit unions is 12.25 percent of assets.

According to a spokesperson for the Wisconsin Department of Financial Institutions, Summit CU was granted an exception to the aggregate MBL cap on August 19, 2016 for 18 percent of assets. The cap was removed on November 1, 2019.

Landmark CU was granted an exception to the aggregate MBL cap on April 8, 2015 for 15 percent of assets; it was subsequently raise to 18 percent of assets on March 31, 217 and removed on November 18, 2019.

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