Permit FCUs to invest in CUSO debentures. Clarify that FCUs should follow generally accepted accounting principles when accounting for FCU investments in and loans to a CUSO for regulatory limitations under Section 712.2 and financial statement amounts under Section 712.3. The final rule also expands permissible cyber financial services by clarifying that CUSOs are permitted to offer credit unions and their members electronic delivery of any permissible CUSO service and any permissible credit union service. Cyber financial service includes CUSOs providing federal credit unions and their members with electronic links to an Internet access provider as part of providing permissible financial services. The interim final rule also requests comment on the grandfather provision and whether real estate brokerage services should be reinstated as a permissible CUSO service.
Votes are unanimous unless otherwise noted.