[Federal Register Volume 86, Number 60 (Wednesday, March 31, 2021)]
[Proposed Rules]
[Pages 16679-16680]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-06653]


=======================================================================
-----------------------------------------------------------------------

NATIONAL CREDIT UNION ADMINISTRATION

12 CFR Part 712

[NCUA-2021-0036]
RIN 3133-AE95


Credit Union Service Organizations (CUSOs)

AGENCY: National Credit Union Administration (NCUA).

ACTION: Supplemental notice of proposed rulemaking; extension of 
comment period.

-----------------------------------------------------------------------

SUMMARY: On February 26, 2021, the NCUA Board (Board) published a 
Notice of Proposed Rulemaking in the Federal Register requesting 
comment on the Board's proposal to amend the NCUA's credit union 
service organization

[[Page 16680]]

(CUSO) regulation (proposed rule). The proposed rule would accomplish 
two objectives: Expanding the list of permissible activities and 
services for CUSOs to include originating any type of loan that a 
Federal credit union (FCU) may originate; and granting the Board 
additional flexibility to approve permissible activities and services. 
The proposed rule provided a 30-day comment period that closed on March 
29, 2021. To allow interested persons more time to consider and submit 
their comments, the Board has decided to extend the comment period for 
an additional 30 days.

DATES: The comment period for the proposed rule published February 26, 
2021, at 86 FR 11645, is extended. Responses to the proposed rule must 
now be received on or before April 30, 2021.

ADDRESSES: You may submit written comments, identified by RIN 3133-
AE95, by any of the following methods (Please send comments by one 
method only):
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments for the Docket NCUA-
2021-0036.
     Fax: (703) 518-6319. Include ``[Your Name]--Comments on 
Proposed Rule: Credit Union Service Organizations (CUSOs)'' in the 
transmittal.
     Mail: Address to Melane Conyers-Ausbrooks, Secretary of 
the Board, National Credit Union Administration, 1775 Duke Street, 
Alexandria, Virginia 22314-3428.
     Hand Delivery/Courier: Same as mail address.
    Public Inspection: You may view all public comments on the Federal 
eRulemaking Portal (http://www.regulations.gov) as submitted, except 
for those we cannot post for technical reasons. The NCUA will not edit 
or remove any identifying or contact information from the public 
comments submitted. Due to social distancing measures in effect, the 
usual opportunity to inspect paper copies of comments in the NCUA's law 
library is not currently available. After social distancing measures 
are relaxed, visitors may make an appointment to review paper copies by 
calling (703) 518-6540 or emailing [email protected].

FOR FURTHER INFORMATION CONTACT: Policy and Analysis: Jacob McCall, 
(703) 518-6624; Legal: Rachel Ackmann, Senior Staff Attorney, (703) 
548-2601; or by mail at National Credit Union Administration, 1775 Duke 
Street, Alexandria, VA 22314.

SUPPLEMENTARY INFORMATION: On January 14, 2021, the Board issued a 
proposed rule to amend the NCUA's CUSO regulation. The proposed rule 
was published in the Federal Register on February 26, 2021.\1\ The 
proposed rule would accomplish two objectives: Expanding the list of 
permissible activities and services for CUSOs to include originating 
any type of loan that an FCU may originate; and granting the Board 
additional flexibility to approve permissible activities and services. 
The NCUA also sought comment on broadening FCU investment authority in 
CUSOs.
---------------------------------------------------------------------------

    \1\ 86 FR 11645 (Feb. 26, 2021).
---------------------------------------------------------------------------

    The proposed rule provided a 30-day public comment period that 
closed on March 29, 2021. The NCUA received over 600 comments on the 
proposed rule. Given the number of comments received and a stated 
interest in an extension of the comment period, the Board believes 
there is significant interest in the proposed rule and that it is 
necessary to extend the comment period to give all interested parties 
sufficient time to properly address the proposed changes and questions 
presented in the proposed rule. The Board believes that extending the 
comment period for an additional 30 days is appropriate. This extension 
should allow interested parties more time to prepare responses to the 
proposed rule without delaying the rulemaking.

    By the National Credit Union Administration Board on March 26, 
2021.
Melane Conyers-Ausbrooks,
Secretary of the Board.
[FR Doc. 2021-06653 Filed 3-26-21; 4:15 pm]
BILLING CODE 7535-01-P