On October 21, the Board of Directors of the National Credit Union approved a final rule by a 2-1 vote to expand the range of licensed activities and services in which credit union service organizations (CUSOs) can engage. Under the final rule, CUSOs will be allowed to create, buy, sell, and hold any type of loan a federal credit union is permitted, including auto and payday loans. The final rule also gives the Board “additional flexibility to approve CUSO’s authorized activities and services outside of the notice and comment regulation.” NCUA Vice President Kyle Hauptman said the rule “gives credit unions the tools to compete more effectively in the digital market.” However, NCUA President Todd Harper objected to the final rule, warning that because the NCUA “lacks the third-party sales authorities that other federal banking agencies and several state regulators have, the NCUA does not have the authority to oversee CUSOs to comply with federal consumer financial protection. laws and regulations and compliance with prudential standards such as concentration limits, maximum loan-to-value ratios and minimum capital levels. The final rule takes effect 30 days after its publication in Federal Register.
Although payday loans can be approved quickly, they cannot be guaranteed. As the larger part, it is important to know that there aren’t guaranteed payday loans. You can answer “No” because you don’t have instant payday loans online guaranteed endorsement. All loans require loaning measures. Payday loans are approved only if you can repay the […]
CHARLESTON – Gov. Jim Justice had no answers Tuesday as to why only seven of his 112 companies were in blind trusts, or on the multi-million dollar loans he personally guaranteed to at least two financial institutions. Justice was questioned during his COVID-19 briefing on Tuesday on whether the types of loans for the businesses […]
Submitted by Washington State Ferries Ferry passengers, commuters, and terminal neighbors are invited to attend one of Washington State Ferries’ next two virtual town halls to hear updates and ask questions about the ferry system. “We learn so much from our community engagement efforts,” said Patty Rubstello, director of Washington State Ferries. “I am delighted […]