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The NCUA is standing by its decision to limit bids for Autoland Inc., an auto buying CUSO, to only credit unions and CUSOs.

For more than three months, the NCUA had considered several bidders to buy Telesis Community Credit Union’s $4 million stake in Autoland. The financially troubled Chatsworth, Calif.-based cooperative was liquidated on June 1, and its assets were purchased by the $1.3 billion Premier America Credit Union, also located in Chatsworth.

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