WASHINGTON–A form is now available for all credit union lenders under $30 billion in assets—which is all but a handful of CUs–to use and be in compliance with the SBA’s letter on debanking issued earlier this year.
According to America’s Credit Unions, the release of the form follows its efforts calling for clarity from the SBA, with the trade group noting it sent a letter to the agency and also met with SBA staff, as the CU Daily reported earlier.
“At issue was exactly how credit unions should comply with the SBA letter, which instructed recipients to end the practice of debanking and provide documentation on past or current policies or practices,” America’s Credit Unions said.
Limited Scope
“Of note, the form limits the scope of the review to the past five years, allows institutions to confirm compliance with a simple attestation that a ‘reasonable review’ was conducted, and only requires additional information if debanking policies were identified,” the trade group added.
Credit unions can submit forms to [email protected] through Jan. 5, 2026.
The form can be accessed here.
