NCUA Board Cancels Thursday Meeting, Delays CUSO Final Rule
The NCUA Board announced Wednesday that it has canceled Thursday’s open meeting, and it will delete one supervisory matter from the closed board meeting agenda.
The board was scheduled to release a final rule that would require all CUSOs to file financial reports directly with the agency as well as the appropriate state supervisory authority.
The regulator has also proposed making additional parts of the CUSO rule applicable to federally insured state-chartered CUs as well as federal credit unions.
Credit unions were critical of the proposed rule, saying it would add to regulatory burden, and asking for more clarification regarding whether credit unions would have to file financial reports for only wholly owned subsidiaries, or all CUSO investments.
The NCUA has now cancelled three of its first six scheduled open meetings this year.
The closed board meeting will now take place at 10 a.m., addressing four supervisory activities and a personnel matter, the agency said.