CUSOs

As more potential buyers began inquiring about the availability of QCash, WSECU decided the time was right to offload the credit union service organization it launched in 2015.

The Virginia Beach-based credit union recently launched Chartway Ventures to invest in fintechs and other organizations.

Pembroke, who had led the association since 2015, died Monday at age 55. Jerry Saalsaa, the organization's senior vice president and chief administrative officer, has been interim CEO since July and will continue in that role.

As more banks and fintechs offer installment loans at the point of sale, CO-OP Financial Services and PSCU are designing products to allow credit unions to compete in this market as well.

Blending its existing technology with new authentication measures, the company aims to cut costs for credit unions that don't want to join the bank-run peer-to-peer network.

The credit union service organization's newest chief executive took the helm April 1 and a new name for the company will debut in June.

John Janclaes spent more than 15 years at Partners Federal Credit Union but has moved on to help launch a new credit union service organization from Nymbus.

The 30-day extension comes after the American Bankers Association requested additional time to consider the rule's impact.

The American Bankers Association has requested more time to respond to a proposal that would expand lending authority for credit union service organizations.

In a party-line vote, the agency issued a proposal that would redefine a "complex" credit union.