CUSO Final Rule, Cybersecurity Briefing on NCUA’s Oct. 21 Agenda
The NCUA board will vote on final rules involving credit union service organizations (CUSOs) and the CAMELS rating system at its Oct. 21 meeting. The meeting will be available via live audio stream starting at 10 a.m. on NCUA.gov on Oct. 21.
- CUNA supports the CUSO proposal in its comments sent in April, calling the proposed expanded CUSO lending authority “modest but important.”
- CUNA also supports the CAMELS proposed rule, which would add “S” (Sensitivity to Market Risk) component to the existing CAMEL rating system and redefine the “L” (Liquidity Risk) component. The rule is one of three CUNA-supported final rules that will be on the NCUA’s meeting agendas through the end of the year. The other two are on field-of-membership shared facility requirements (scheduled for the Nov. 18 meeting) and mortgage servicing rights (scheduled for the Dec. 16 meeting).
The complete agenda is:
- Board briefing, Cybersecurity.
- Final rule, part 712, Credit Union Service Organizations.
- Final rule, parts 700, 701, 703, 704 and 713, CAMELS Rating System.
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