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Credit Union Service Organizations (CUSOs)

NCUA · final-rule · Published 2001-08-03 · Effective 2001-09-04 · 66 FR 40575

Document

Document number
01-19106
Federal Register citation
66 FR 40575
CFR reference
12 CFR 712
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US National Credit Union Administration
Publication date
2001-08-03
Effective date
2001-09-04

Abstract

NCUA is revising its rule concerning federal credit union (FCU) investments in and loans to credit union service organizations (CUSOs). The first change clarifies that the list of permissible activities in the CUSO regulation is intended to establish broad categories of permissible activities. The listing of particular activities under these categories is for illustrative purposes and not exhaustive of activities that may be permissible. In conjunction with this change, the provision for adding new activities to the regulation is amended to encourage FCUs to seek an advisory opinion from the Office of General Counsel on whether a proposed activity falls within one of the authorized categories before requesting a regulatory amendment. The final change adds a federally-chartered corporation to the category of permissible structures for CUSOs.

Source

Authoritative
Federal Register document
Machine
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