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NACUSO’s Comment Letter Regarding the Proposed Amendments To 12 CFR Parts 701 And 741 Loan Participation Rule

NCUA has Issued proposed changes to the Loan Participation Regulation. View a copy of the Comment Letter Submitted by NACUSO.  Comments to the proposed Loan Participation Amendment are due by February 21, 2012 and should be sent to regcomments@ncua.gov.

Help NACUSO Fight Against the Regulation of CUSOs – Links & Downloads

NCUA has made it very clear. They are headed down the path toward the direct regulation of CUSOs. The proposed Amendment to the CUSO Regulation, which has now been published in the Federal Register, is the first step. NACUSO has issued its Comment Letter to the NCUA on the proposed CUSO regulations, which is available for your review, as well as the NCUA Proposed CUSO Regulation Reference Points for your consideration and reference in submitting your own comment letter to NCUA. We urge our members to draft and submit a comment letter to NCUA in your own words expressing your opinion on the Proposed CUSO Regulation (see Template and links below). The time to fight this costly, burdensome, unnecessary regulation is now, before the NCUA implements it and proceeds down the path of regulating CUSOs.

Click to download our NCUA Proposed CUSO Regulations Comment Letter Template.

Click to view “CUSO Regulation Reference Points” to consider in your comment letter to the NCUA.

Click to view NACUSO’s Comment Letter to the NCUA

Click to view actual NCUA proposal. The link is to the NCUA Board Agenda – Items 2a and 2b are the CUSO rule. Click on 2b for the full proposed rule, and the CUSO regulation is covered on pages 1-15.

Click to view the posted Comment Letters posted on the NCUA website

Click to view Comment Letter from Tony Boutelle of CU Direct Corporation
Click to view Comment Letter from Brandon Michaels of Mazuma Credit Union
Click to view Comment Letter from Michael Prior of CUFN

August 2012: Click here to see NACUSO’s letter to NCUA Board Members regarding the postponement of the proposed CUSO Rules