Preparing for the Heightened Scrutiny of CUSOs

Live Webcast: Wednesday, March 7, 2012 • 2:00 p.m. - 3:30 p.m. EST

On-Demand Webcast Available until March 7, 2013  
 
Open to all credit unions, regardless of membership or charter type!

Although The National Credit Union Association (NCUA) currently does not have direct regulatory power over a Credit Union Service Organization (CUSO), they have significant power over any CUSO owned by a federally chartered credit union. The CUSO regulation proposed by the NCUA last summer would create this direct regulatory authority. Although this regulation may not be implemented as proposed, CUSOs can expect to have additional regulatory constraints once the regulation is final. 

CUSOs around the country are already experiencing direct inquiries from the NCUA. The best line of defense is being prepared. Credit unions considering ownership in a CUSO or use of a CUSO's services must understand the due diligence necessary for preparation for an exam related to such CUSO. Credit Unions using CUSOs, whether as an owner or on a contract basis, should understand and know the services being provided by the CUSO. NCUA examiners are increasingly interested in verifying a credit union's due diligence related to its CUSO relationships. 

This presentation will assist credit unions who use or contract with CUSOs in preparing for their own exams. It will also assist CUSOs and their credit union owners in understanding and preparing for an NCUA exam of the CUSO.  

What you will learn:

• Understanding of the proposed CUSO regulation, comments thereto and anticipated outcome;
• Knowledge of CUSO regulatory compliance basics currently in place;
• What CUSO’s need to know for an NCUA exam; and Credit union preparedness for an NCUA examination related to services obtained from a CUSO.
  

Industry Leading Speakers:

Katherine Weber, Esq.
The Weber Firm

Katherine Weber is the founder of The Weber Firm, LLC, a law firm with a practice focusing on the representation of Credit Unions and CUSOs.  Katherine has been representing credit unions and CUSOs for twelve years.  Over the years, Katherine has developed relationships with regulators, leagues and associations, as well as credit union vendors.  These relationships have been instrumental in the representation of her clients in matters such as CUSO formation, offering non-traditional financial products, loan participation agreements, business lending/services and compliance, regulatory advocacy, contract negotiation and due diligence.  Katherine has presented at various credit union and CUSO conferences.  Katherine also participates in the monthly podcast, Current Issues in Credit Unions.  While her legal work has been personally fulfilling, moreover Katherine appreciates her good fortune to be an active participant in fulfilling the mission of the credit union movement.  

Credit Union staff that will benefit from this webcast include:

All credit union staff and executives responsible for a credit unions contractual relationship with or ownership in a CUSO will benefit from this webcast. Additionally, the following staff members will benefit:

NAFCU's webcasts include live streaming video and audio of the presenters along with presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time and there is no dialing in over the phone! The audio and video stream directly through your computer.

On-Demand webcasts are available for up to 12 months after the live broadcast and are included in the registration fee.

Broadcast live from NAFCU's Headquarters in Arlington, VA.