Bankowość i finanse · 31/03/2021

Credit Union Service Organizations (CUSOs)

On February 26, 2021, the NCUA Board (Board) published a Notice of Proposed Rulemaking in the Federal Register requesting comment on the Board's proposal to amend the NCUA's credit union service organization (CUSO) regulation (proposed rule). The proposed rule would accomplish two objectives: Expanding the list of permissible activities and services for CUSOs to include originating any type of loan that a Federal credit union (FCU) may originate; and granting the Board additional flexibility to approve permissible activities and services. The proposed rule provided a 30-day comment period that closed on March 29, 2021. To allow interested persons more time to consider and submit their comments, the Board has decided to extend the comment period for an additional 30 days.