Credit unions must provide information on CUSOs they make loans to or invest in under the NCUA’s enhanced CUSO rule.
This year has been an exciting and pivotal year for CUSOs as they continue to be an incredibly important part of the credit union industry.
From the implementation of new rules that call for additional reporting requirements to risk-based capital worries, CUSOs had a tumultuous 2014. With advocates vowing to keep the pressure on in 2015 to ease regulatory scrutiny, credit unions are forging ahead with new alliances to stay competitive.
This on-air interview with NCUA Board Member Rick Metsger covers the agency's 2014 budget and the new CUSO rule.
ALEXANDRIA, Va. — In what was arguably the most important meeting of the year, the NCUA board approved a 6.7% in the 2014 operating budget, no projected corporate assessment for 2014 and a final CUSO rule. All items on the agenda received yes votes of approval from all three board...
ALEXANDRIA, Va. — CUSOs required to report basic profile information at end of 2015, get ready next year.
NCUA spokesman confirms meeting cancellation was to delay release of rule so more work could be done. CUSO lawyer, NACUSO CEO approve.
The NCUA Board's decision to cancel its public board meeting and delay a vote on the final rule for CUSOs was warmly greeted by NAFCU.
The National Consumer Law Center continued its criticism of payday lending CUSOs in a NCUA comment letter on proposed amendments to the CUSO rule.