ALEXANDRIA, Va. — CUSOs would have to submit financial reports to the NCUA and there would be limits on the investments certain credit unions can make in CUSOs, according to a proposed rule the NCUA sent out for comment on July 21.
ALEXANDRIA, Va. — New rules call for CUSOs to submit financial reports to the NCUA, limit investments certain credit unions can make.
When the NCUA issues its proposed regulation of credit union service organizations on July 21, it will be an attempt by the agency to keep a closer eye on organizations whose role has grown and therefore expose credit unions to greater risk.
There is, we are told, no such thing as a free lunch. For the NCUA, however, there may well be free money.
Here are some more photo highlights of the 44th annual NAFCU conference this week in San Francisco. Click on through for a slide show.
SAN FRANCISCO — A sluggish economy has caused the NCUA to undertake several initiatives to ensure the safety and soundness of the industry, a board member says.
I read, with interest, Henry Wirz’s letter in the May 11 issue, “Capital Plan Is a Bust.” First, for clarification, the white paper was not “recently released.” It was released on April 12, 2010. Second, the white paper was released under my and my working group’s authorship.
Although government work isn’t always lucrative, 25 NCUA employees make more than $201,000 annually, according to agency records.
Having just returned from NACUSO’s 2011 Annual Conference in Las Vegas, I thought it would be appropriate to share some perspective on current issues and trends that will impact your credit union and its ability to survive and thrive.
LAS VEGAS — NCUA examiners hired specifically to examine CUSO operations and portfolios may be one way to spot red flags, an NCUA official says.