Binders full of regulatory guidelines. Source: Shutterstock.

On Monday, the NCUA issued a Letter to Credit Unions to remind that of a final rule that went into effect more than a year ago that amended the agency’s regulation part 712 dealing with CUSOs. The rule expanded the “list of permissible activities and services for CUSOs to include originating any type of loan that a federal credit union may originate and grants the Board additional flexibility to approve permissible activities and services.”

The Letter, signed by NCUA Board Chairman Todd Harper, stated, “Given the new rule has been in effect for more than a year now, the agency has produced the enclosed guidance statement to remind credit unions of the expanded opportunities to work with CUSOs and to address some of the primary related risks. Based on a credit union’s relationship with a CUSO, whether sole owner, investor, lender or customer, the level and types of risk may vary. Credit unions also need to remain mindful of and properly address any consumer financial protection risks that CUSO-originated loans pose.”

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?

Michael Ogden

Editor-in-Chief for CU Times.

More from this author


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.