NCUA reduces CUSO info requirements for call reports

Beginning with the Sept. 30 reporting cycle, the NCUA said Monday it will require less CUSO information from credit unions on their call reports.

Going forward, credit unions will only be required to submit aggregate CUSO loan and investment information on their call reports. All other required information is now being collected directly from CUSOs through the agency’s CUSO Registry, according to the NCUA.

The NCUA announcement was welcomed by NACUSO, CUNA and NAFCU.

Jack M Antonini, president/CEO of NACUSO, said his organization is very pleased with the NCUA’s decision to decrease the reporting burden on credit unions.

continue reading »