NCUA November Board Meeting Produces Final CUSO Rule and Announcement on 2014 Corporate Credit Union Assessment
The NCUA Board approved changes to the CUSO Rule that will require all CUSOs to report certain information to NCUA and state regulators. CUSOs that offer more complex or higher-risk services, such as credit and lending, IT, and custody, safe-keeping and investment management services, will be required to report more detailed information, including providing financial statements ad general customer information. In addition, the Board announced that, due to recent legal settlements, it does not anticipate a corporate credit union assessment for 2014. [11/22]