Personal Guarantees - MBL (NCUA) –Section 723.5(b) of the rule on personal guarantees a credit union making a member business loan (as defined in current § 723.1) will no longer be required to seek a waiver if it decides that a full and unconditional guarantee from the principal(s) of the borrower is not necessary and it determines and documents in the loan file that mitigating factors sufficiently offset the relevant risk. All other provisions of the rule are effective on January 1, 2017.

The final rule is available here.