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NASCUS to NCUA: Shift Focus on CUSO Relationships

The problem with the NCUAs CUSO proposal is that the focus is on supervisory oversight of CUSOs rather than their relationships with credit unions.

By Michelle A. Samaad | Updated on September 27, 2011

NASCUS said the problem it has with the NCUA’s CUSO proposal is that the focus is on supervisory oversight of CUSOs rather than their relationships with credit unions.

“From a holistic perspective, the fundamental problem with NCUA’s proposed approach is that it focuses supervisory oversight on CUSOs,” wrote Brian Knight, NASCUS senior vice president, regulatory affairs and general counsel, in a Sept. 26 comment letter to the NCUA. “The efforts of state and federal credit union regulators should focus on the credit union’s relationship with its CUSO.”

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