The rule adds two activities as permissible CUSO activities; adds new examples of permissible CUSO activities within existing categories; expands the scope of two categories of services to include persons eligible for credit union membership; imposes limits on the ability of a credit union to recapitalize CUSOs in certain circumstances; extends the agency's access-to-records and corporate separateness provisions in the CUSO rule to federally insured, state-chartered credit unions; clarifies that CUSOs may buy and sell participations of loans they are currently authorized to originate; and deletes a section in the current rule concerning amendment requests.
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