Home

« NAFCU's Offices Closed Today; Disclosing APRs - Fixed, Non-Variable, or Variable | Main | The Snow Must Go On; NAFCU's Offices Closed Again; Great NCUA Legal Opinion Letter »

February 09, 2010

Comments

Guy Messick

Anthony, I agree that large credit unions will not completely forgo internal compliance staff. Having said that, the reason we wrote to NCUA to obtain this opinion is that large credit unions did want to consolidate some compliance functions in a CUSO. In small credit unions, dedicated compliance staff is not existent and, to be honest, there is not sufficient staff time to even consider all the compliance issues. For small credit unions, a compliance services CUSO could make a tremendous difference. When I spoke at a NASCUS meeting, the regulators were very enthusiastic about small credit unions getting compliance help from any means. Stay warm Anthony. The snow is coming here too.

Anthony Demangone

Thanks, Guy. For those of you who may not know Guy, he's known as one of the leading authorities, if not the leading authority on legal issues surrounding CUSOs. (Among his other legal talents.)

The comments to this entry are closed.

Enter your email address:

Delivered by FeedBurner

Categories