LAS VEGAS-The National Association of Credit Union Service Organizations (NACUSO) is targeting four areas as part of a new focus on advocacy.
The four, said Lisa Renner, chairman of NACUSO's Regulatory Advocacy Committee, are important to maintaining a "favorable environment for credit unions to deliver a great member experience." If and when regulations are proposed that the trade group feels infringe upon these areas, it is going to act to effect change, she told attendees of NACUSO's recent Annual Conference here. The four areas of focus:
• Ensuring CUSOs are able to offer an expanded list of products and services.
• Increasing the cap on member business lending to allow credit unions to serve new, untapped markets and aid small businesses.
• Increasing the investment cap to 5% from 1%.
• Opposing regulation of CUSOs so credit unions have access to entrepreneurial incubators.
"We will not chase every rabbit in the field," vowed Renner, "but we will defend collaboration, innovation, growth and entrepreneurialism."
NACUSO sent three comment letters to NCUA, one on the "double assessment" of CUs and CUSOs under the proposed corporate rule, one on broker/dealer oversight burdens on CUs, and the third regarding incentive-based compensation arrangements. It's also reviewing mortgage and loan servicing regs.
