ALEXANDRIA, Va. — The NCUA Board got down to business last week, approving the first of its proposals from the Outreach Task Force as well as proposing expansion of the rules governing credit union service organizations and clarification of the Freedom of Information Act regulation, among other things.

The NCUA Board moved a proposed regulation to expand several different CUSO activities. It would add credit card loan origination and payroll processing as permissible CUSO activities. It would also expand the scope of two the categories of services, allowing for services to includes persons eligible for credit union members.

The legislative history of the Financial Services Regulatory Relief Act, NCUA's Board Action Memorandum contended, “indicates that Congress intended to allow FCUs 'to sell negotiable checks, money orders and other similar transfer instruments, including international and domestic electronic fund transfers, to anyone eligible for membership, regardless of their membership status.' The board believes the enactment of that law warrants a parallel expansion in the CUSO rule, since an FCU may elect to provide some or all of these types of services through the vehicle of a CUSO.”