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January 25, 2016

NCUA slates Feb. 11 webinar on CUSO Registry

NCUA announced Monday that registration will open soon for a free Feb. 11 webinar on the CUSO Registry. The agency says it will provide additional support material and customer support for the registry when it goes live Feb. 1.

As reported last week, CUSOs will report information directly to NCUA through the registry, and registration will be open from Feb. 1 until March 31. NCUA has said it will give CUSOs 30 days to complete registration if it discovers an unregistered CUSO doing business with a credit union.

The CUSO Registry was developed as part of a 2013 NCUA final rule that, among other things, requires CUSOs to report basic information directly to NCUA or the appropriate state regulator. NAFCU has consistently opposed the rule as an inappropriate and unnecessary burden on CUSOs and the credit unions that use their services.

The Feb. 11 webinar is slated for 2:30 p.m. Eastern. For more on the registry, see NCUA Letter to Credit Unions 16-CU-02.