Recent CUSO rule leads an eventful financial inclusion fortnight ahead of FIW21

by QCash Financial CUSO

A dual celebration is underway as the financial services industry celebrates the National Credit Union Administration (NCUA) Board’s recent vote to approve the final CUSO rule changes on October 21 and the start of Financial Inclusion Week November 1-4!

Leading up to next week’s annual FIW21 forum celebrating the exchange of ideas, research, and perspectives from partner organizations all around the world, the credit union industry entered into a new era of financial products and services for credit unions and their members. With an NCUA Board vote of 2-1, the final rule was approved that “expands the list of permissible activities and services that credit union service organizations or CUSOs are allowed to engage in.”

Per the NCUA press release announcing the decision, Vice Chairman Kyle Hauptman stated, “This rule gives credit unions the tools to compete more effectively in the digital marketplace. It also gives members another choice when shopping online. That’s a good thing. As always, we’ll be watching how this rule impacts consumers and credit unions.”

 

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