NACUSO’s Legislative and Regulatory Advocacy Committee: Comment to Letter No. 10-FCU-03

NACUSO has reviewed the NCUA Letter to Federal Credit Unins No. 10-FCU-03 (“Letter”), the replacement to NCUA Letter to Credit Unions Number 150. The last time a replacement Letter was proposed, it was in connection with Proposed IRPS No. 05-1. We are not sure why the IRPS issuance was not the means to follow up on this topic.

NACUSO has a very serious concern with this Letter. The Letter asks credit unions to perform duties outside of the scope of their expertise and to interpose themselves in broker/dealer compliance issues. 

Click here for the entire letter.

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