The CUPP | Episode 26: Unlocking Financial Innovation - NCUA's New Rule Explained

Released November 15, 2023 | Join Brian Lauer, partner with the law firm of Messick Lauer & Smith P.C. and General Counsel to the National Association of Credit Union Service Organizations (NACUSO), for a deep dive into the National Credit Union Administration’s (NCUA) recent final rule on financial innovation. This rule revised Parts 701 and 714 of the NCUA’s regulations regarding the purchase of loan participations and the purchase, sale, and pledge of eligible obligations and other loans. The final rule offered greater flexibility for federally insured credit unions to take advantage of new technology partnerships with fintechs. NAFCU has strongly supported more opportunities for credit unions to develop strategic partnerships to provide more and improved products and services to members.

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Key Takeaways

  • Understand what the rule does and does not do, the impetus behind the rule, and what it could mean for your credit union; 
  • Hear expert analysis on the rule’s underwriting requirements and how that fits with the use of automated technologies like artificial intelligence and machine learning; and 
  • Learn about additional potential areas for improvement to the NCUA’s regulations to facilitate even more credit union partnerships to help you grow your business. 

Presented By

Ann Petros, Vice President of Regulatory Affairs, NAFCU
Ann Petros, Vice President of Regulatory Affairs, NAFCU

Ann Petros was named Vice President of Regulatory Affairs in October 2021. In her role, Petros oversees NAFCU’s advocacy on various regulatory developments from federal agencies, including the National Credit Union Administration, the Consumer Financial Protection Bureau, and the Federal Housing Finance Agency. Petros joined NAFCU in June 2016 as a regulatory affairs counsel and was promoted to senior regulatory affairs counsel in June 2018. Since starting at NAFCU, Petros has led the association’s advocacy on housing finance issues as well as Federal Communications Commission regulations implementing the Telephone Consumer Protection Act.

Brian Lauer
Brian Lauer

Brian G. Lauer is a partner with the law firm of Messick Lauer & Smith P.C. and General Counsel to NACUSO, where he concentrates his practice on assisting credit unions, primarily through CUSOs, in finding effective ways to work collaboratively with other credit unions and third-party service providers to serve their members with non-traditional products and services. Brian has assisted countless CUSOs with developing strategic visions, goals and plans to generate growth organically and through acquisition. Brian is also the author of the book “CUSOs: How Credit Unions and Entrepreneurs Can Get Started (And Win) with Credit Union Service Organizations.”