Comments due on NCUA proposed CUSO rule
The NCUA Board has unanimously approved by notation vote a 30-day extension of the comment period for its proposed rule on credit union service organizations (CUSOs).
The proposed rule, published at 86 FR 11645 on February 26, 2021, would expand the list of permissible activities and services for CUSOs. Specifically, it would:
- Expand the list of permissible activities and services for CUSOs to include originating any type of loan that a federal credit union may originate; and
- Grant the NCUA Board additional flexibility to approve permissible activities and services.
The comment period would have expired today, March 29, 2021. Notice extending the comment period will be published March 31, 2021, with comments now due by April 30, 2021.
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