ALEXANDRIA, Va. — NCUA BoardMember Rick Metsger told Credit Union Times on Tuesday hesupports the intent of a proposed rule that would allow the NCUA tocollect financial information about CUSOs to protect against losses to the NCUSIF.
However, Metsger said he has concerns about the cost of supervising CUSOs, which has been estimated at $1million to develop the program and $500,000 per year tomaintain.
In an interview at the agency's suburban D.C. headquarters, thenewest board member said he's optimistic the program's originalcost projections will be lowered when the final rule isapproved.
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