The NCUA Board The NCUA Board (Source: NCUA)

Congress should give the NCUA power to supervise third-party vendors and CUSOs, the agency Inspector General said this week, contending that the lack of oversight responsibility puts the Share Insurance Fund at risk.

“CUSOs and third-party vendors have become integral to the operations of many credit unions, and deficiencies in their operations could cause significant widespread financial disruption and other harm if statutory examination and enforcement authority is not provided to the NCUA,” the IG said.

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