The NCUA reminded CUSOs Monday that their registration deadline is March 31.
Additionally, the regulator developed a series of short instructional videos to facilitate the registration process and detail the functions of the registry. The 10-part series is available online here.
As part of the NCUA's board-approved, enhanced CUSO rule, federally insured credit unions are responsible for ensuring the CUSOs they make loans to or invest in agree to provide certain information directly to the NCUA.
Registration is free and CUSOs can complete the process online here. The NCUA hosted a webinar in February on how to use the system and complete the registration process; an archive of the webinar can be accessed here.
Included on the CUSO registry page are a host of support materials, including a user manual, instructions, quick guides, FAQs and supervisory guidance related to changes to the NCUA's rules governing the relationship between credit unions and CUSOs.
Information contained in the general information tab will be available for public search in mid-2016. The agency suggested early registrants review the information contained within the general information tab for any non-public information, including confidential commercial or financial information and trade secrets. This sensitive information will be protected and withheld from Freedom of Information Act requests and under the NCUA's own FOIA regulations.
Collected information contained in the general information section will include:
- Legal name and any trade names;
- CUSO registry number assigned by the NCUA;
- Services offered;
- Address (physical, if different from mailing address);
- Public website address, if provided by the CUSO; and
- Public phone number, if provided by the CUSO.
The NCUA plans to share the CUSO-related information with state supervisory authorities that have signed written information sharing agreements with the agency. Further, public information will be available for download on the NCUA's website, similar to the quarterly Call Report data.
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