The National Credit Union Administration issued a proposed rule that would expand credit union service organizations' permissible services and activities to include anything federal credit unions can currently do.
The proposal would expand on the power of CUSOs—corporate entities owned by credit unions—to engage in business, mortgage, student, and credit card lending.
The NCUA does not have supervisory or examination authority over CUSOs, which ICBA is calling on Congress to change as part of its "Wake Up" campaign.