Organization and Operations of Federal Credit Unions; Credit Union Service Organizations; Advertising

Resumo

The NCUA is proposing to update, clarify and streamline existing rules concerning credit union service organizations (CUSOs), a common means of outside provision of services to federal credit unions (FCUs) and to credit union members. The intended effect of the proposal is to reduce regulatory burden, maintain safety and soundness, and ensure the continuity and growth of services to FCUs and their members conducted through CUSOs. Related conforming changes are also proposed to amend NCUA's rules on credit union service contract and credit union advertising requirements.