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The Texas Credit Union Commission recently addressed several matters regarding investments in credit union service organizations in the Lone Star State.

At its June 16 and 17 meetings, Commissioner Harold Feeney said the proposed amendments clarify that a CUSO must comply with all applicable state or federal licensing requirements. In addition, the proposed amendments would increase the time from 15 days to 20 days to notify the commissioner of certain CUSO activities and impose a new requirement that Texas Credit Union Department must approve any investment that would cause the aggregate investment in CUSOs to exceed 25% of the credit union’s net worth.

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