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CUSOS Seek Exemption from Compensation Disclosures

Because CUSOs are not considered financial institutions, the National Association of Credit Union Service Organizations said they should not be required to disclose certain incentive based compensation arrangements.

By Michelle A. Samaad | Updated on March 21, 2011

Because CUSOs are not considered financial institutions, the National Association of Credit Union Service Organizations said they should not be required to disclose certain incentive-based compensation arrangements.

NACUSO’s position has to do with a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which tasked the NCUA and other federal regulators to prescribe regulations requiring disclosure of certain incentive-based compensation arrangements for executives, directors, employees or principal shareholders of a covered financial institution, including nearly all state and federally chartered credit unions.

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