CUSO final rule, cybersecurity briefing on NCUA’s Oct. 21 agenda
October 14, 2021
The NCUA board will vote on final rules involving credit union service organizations (CUSOs) and the CAMELS rating system at its Oct. 21 meeting. The meeting will be available via live audio stream starting at 10 a.m. (ET) on NCUA.gov on Oct. 21.
CUNA supports the CUSO proposal in its comments sent in April, calling the proposed expanded CUSO lending authority “modest but important.”
CUNA also supports the CAMELS proposed rule, which would add “S” (Sensitivity to Market Risk) component to the existing CAMEL rating system and redefine the “L” (Liquidity Risk) component.
The rule is one of three CUNA-supported final rules that will be on the NCUA’s meeting agendas through the end of the year. The other two are on rule on field of membership shared facility requirements (scheduled for the Nov. 18 meeting) and mortgage servicing rights (scheduled for the Dec. 16 meeting.
Credit Union Magazine’s Summer 2023 issue highlights the lending outlook for the rest of the year, how credit unions leverage fintech companies to boost digital lending, the power of lending partnerships, common Bank Secrecy Act violations, and the shift board members must make when becoming chair.
