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New CUSO Regs Prompt a Mountain of Concern

Several new concerns have been raised about the NCUAs proposal to regulate CUSOs, including whether the regulator took the time to think through its plan.

By Michelle A. Samaad | Updated on August 17, 2011

Several new concerns have been raised about the NCUA’s proposal to regulate CUSOs, including whether the regulator took the time to think through its plan.

In late July, the regulator proposed a rule that would require all CUSOs to file financial reports directly with the NCUA and the appropriate state supervisory authority. The board also proposed limiting federally insured state-chartered credit unions’ aggregate cash outlays to a CUSO.

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