The temperature this summer may have gone up a few more notches in credit union land when the NCUA announced a proposal that would bring several amendments to the CUSO rule.
The Texas Credit Union Commission recently addressed several matters regarding investments in credit union service organizations in the Lone Star State.
A regulatory proposal in Texas that could potentially change how credit union service organizations in the Lone Star State are monitored is coming under fire from several industry groups.
NACUSO is venturing into the thick of the legislative and regulatory brush for the first time.
The NCUA recently reiterated that guidance on best practices involving third-party brokerage arrangements is just that and does not carry the force of formal regulation.
The NCUA said while it has offered guidance on best practices involving third-party brokerage arrangements, the suggestions do not carry the force or weight of formal regulation.
The nomination period for the four seats up for election on NACUSO's board of directors will open March 4.
Third-party brokerage arrangements for the sale of nondeposit investment products outlined in a recent NCUA guidance letter contain duties some federal credit unions may not have the ability to perform.
While NACUSO has beat the drum to rally support on pressing industry issues, for the first time in its 26-year history, the association is putting together a plan of action for advocacy
NACUSO said an NCUA letter on the third party brokerage arrangements for the sale of nondeposit investment products contains duties that credit unions may not have the expertise to perform.