Credit unions, some of the most careful auto lenders, may soon have the ability to securitize these loans.

The National Credit Union Administration (NCUA), has proposed a rule allowing federal and some state-chartered federally insured credit unions to create special purpose vehicles to hold assets. This would enable federal credit unions that can meet certain requirements to securitize loans they have originated. Market players say that the law isn’t likely to pass before the end of 2014, however.

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