Third-Party Servicing of Indirect Vehicle Loans

The California and Nevada Credit Union Leagues support the proposed repeal of regulations governing third-party servicing of indirect vehicle loans. They argue that the current prescriptive concentration limits are outdated, create unnecessary administrative burdens, and that a principles-based supervisory approach is more appropriate for modern risk management.

The Utah Credit Union Association supports the NCUA's proposed repeal of regulations governing third-party servicing of indirect vehicle loans. They argue that the current prescriptive concentration limits are outdated, create unnecessary administrative burdens, and can be replaced by a more modern, principles-based supervisory approach that allows for greater operational flexibility and competitive equity.

The Ohio Credit Union League (OCUL) supports the NCUA's proposal to remove prescriptive regulations regarding third-party servicing of indirect vehicle loans. They argue that these rules are outdated, that credit unions have demonstrated the ability to manage these risks safely, and that removing the requirements will reduce regulatory burden while providing boards with greater operational flexibility.

The Illinois Credit Union League (ICUL), a trade association representing Illinois credit unions, supports the proposed rule to remove aggregate limits on indirect vehicle loan purchases. They argue that removing these limits will reduce regulatory burden and provide credit unions with greater operational flexibility, while cautioning that examiners should remain objective when reviewing individual credit union policies.

The Defense Credit Union Council (DCUC) supports the NCUA's proposed rule to remove regulatory provisions regarding third-party servicing of indirect vehicle loans. They argue that removing these prescriptive requirements provides credit unions with greater operational flexibility and that the NCUA can still address safety and soundness concerns through its existing examination and supervision process.

The Cornerstone Credit Union League, a trade association representing nearly 600 credit unions, supports the removal of prescriptive regulations regarding third-party servicing of indirect vehicle loans. They argue that these changes will reduce regulatory burdens and provide greater operational flexibility while maintaining safety and soundness through existing examination processes.

Suncoast Credit Union supports the proposed rule because it modernizes the regulatory framework and reduces administrative burdens for credit unions. They argue that the proposal allows for more flexible, risk-based management of indirect lending and third-party relationships while maintaining safety and soundness standards.