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NAFCU’s March 7 Webcast Will Help Credit Unions Prepare For Proposed CUSO Rule

WASHINGTON – The National Association of Federal Credit Unions (NAFCU) will help credit unions prepare for heightened scrutiny of credit union service organizations (CUSOs) in its March 7 webcast, which will broadcast live from the NAFCU headquarters in Arlington, Va. from 2:00-3:30 p.m. EST.

The deadline for early registration savings is Feb. 29. NAFCU members and nonmembers can call 800-344-5580 or visit www.nafcu.org/CUSOMarch2012 to register.

Last July, the National Credit Union Administration (NCUA) approved a proposal that would amend current rules pertaining to CUSOs and require, among other things, that CUSOs file financial reports directly with the agency as well as any appropriate state supervisory authority.

“This webcast will tell credit unions what to expect from this proposed rule, as well as help CUSOs and their credit union owners understand and prepare for an NCUA exam of the CUSO,” said NAFCU President and CEO Fred Becker, Jr.

The webcast’s featured speaker is Katherine Weber, Esq., of the Weber Firm, a law firm which focuses its practice on representing credit unions and CUSOs. She will discuss:

the proposed CUSO regulation and anticipated outcome;
CUSO regulatory compliance basics currently in place; and
how to prepare for NCUA examinations with regard to CUSOs, including what CUSOs and credit unions obtaining services from a CUSO need to know.

NAFCU is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public.