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Credit Union Service Organizations (US National Credit Union Administration Regulation) (NCUA) (2018 Edition) The Law Library

Credit Union Service Organizations (US National Credit Union Administration Regulation) (NCUA) (2018 Edition) The Law Library presents the complete text of the Credit Union Service Organizations (US National Credit Union Administration Regulation) (NCUA) (2018 Edition). Updated as of May 29, 2018 NCUA is issuing a final rule to amend its credit union service organization (CUSO) regulation to increase transparency and address certain safety and soundness concerns. The final rule expands the requirements of the CUSO regulation that apply to federally insured, state-chartered credit unions (FISCUs) to address accounting, financial statements, and audits. The final rule also includes limits on the ability of "less than adequately capitalized" FISCUs to recapitalize their CUSOs. In addition, it adds several new requirements that apply to both federal credit unions (FCUs) and FISCUs. Specifically, all CUSOs are required to annually provide basic profile information to NCUA and the appropriate state supervisory authority (SSA). CUSOs engaging in certain complex or high-risk activities are required to additionally report more detailed information, including audited financial statements and general customer information. The final rule also requires all subsidiary CUSOs to follow applicable laws and regulations. This book contains: - The complete text of the Credit Union Service Organizations (US National Credit Union Administration Regulation) (NCUA) (2018 Edition) - A table of contents with the page number of each section