A number of credit unions remain concerned about multi-featured open-end lending (MFOEL) following the issuance of National Credit Union Administration's (NCUA) letter to federal credit unions last month (NCUA Letter No. 12-FCU-02). While designed to provide additional guidance (and basically to correct a previous letter the agency sent to federal credit unions in 2010 on MFOEL), credit unions that want to continue offering open-end credit to their members under the MFOEL program have raised questions.
To respond to the need for more information on MFOEL, Credit Union National Associaiton (CUNA) and CUNA Mutual Group are partnering to offer a webinar on August 15 through CUNA’s CPD. Click here for information about the webinar.