NACUSONational Association of Credit Union Service Organizations
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Jack M Antonini, president/CEO of NACUSO, said his organization is very pleased with the NCUA's decision to decrease the reporting burden on credit unions.
Rather, they focused on the consumer credit debt among undergraduate students in general and indicated that it is a national trend that more students use credit cards to finance their education than previously (Baum & Saunders, 1998; NACUSO, 2004).
NACUSO said there had been some confusion over who is responsible for completing the necessary information in the NCUA's registry.
NACUSO President/CEO Jack Antonini said the NCUA sent letters to the CUSOs they know, but "for the ones they don't know, they've asked us to reach out to them and try to connect to them."
Interviewed on site at the NACUSO 2015 Annual Conference, Kelly reported that credit unions which signed up for the company's auto loan reset program 15 weeks ago have already reset 1158 loans worth more than $19 million.
NACUSO held its meeting at the Disney Yacht Club Resort through Thursday.
The NACUSO meeting took place from April 13-16 at the Disney Yacht Club resort in Orlando, Florida.
Jack Antonini, president/CEO of NACUSO, said the NCUA seemed to be out of touch with the purpose of the hearing.
* Most CUSOs have made adjustments to comply, NACUSO reported.
"There was some confusion among credit unions and CUSOs whether this regulatory burden extends to credit unions with only a contractual agreement for services with a CUSO," Lauer wrote on NACUSO's website.
Indeed, two attorneys speaking on the proposed rules at NACUSO on April 15 could not produce an example when asked.
If the NCUA's luncheon session at last week's NACUSO conference is any indication, Chairman Debbie Matz and crew could face hostile crowds during this summer's listening sessions.