Browsing: Credit unions

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In testimony before the House Financial Services Committee earlier this week, National Credit Union Administration Chairman Todd Harper urged lawmakers give his agency examination and enforcement authority over third-party vendors, including credit union service organizations, or CUSOs, to address what he called a “growing regulatory blindspot.”

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The American Bankers Association yesterday panned two proposals by the National Credit Union Administration to simplify current risk-based capital requirements for “complex” insured credit unions with more than $500 million in assets.

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The American Bankers Association today urged the National Credit Union Administration to withdraw a proposed rule that would expand the range of permissible lending activity for credit union service organizations, or CUSOs.

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In an American Banker op-ed today, former National Credit Union Administration Chairman Mark McWatters expressed concern that the agency has become “inappropriately emboldened” and said that “the agency may have abandoned . . . its congressional mandate to stay clearly within the four corners of the Federal Credit Union Act.”

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