CUSO Rule Comment Period Extended

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) Part 712. The proposed rule, published at  86 FR 11645 on Feb. 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 March 29, 2021. The extended comment period will now end April 28, 2021.