How NCUA’s Financial Innovation Proposal Could Affect Credit Unions & CUSOs
Veteran CUSO/credit union attorney Brian Lauer, partner at Messick, Lauer & Smith, sat down with Host Sarah Snell Cooke, principal at Cooke Consulting Solutions, to talk about the NCUA's recent proposed rule, Financial Innovation: Loan Participations, Eligible Obligations, and Notes of Liquidating Credit Unions, which is currently open for comment. Brian said this proposal goes a long way to helping keep credit unions relevant for members, particularly as it pertains to lending and technology. This is a can't-miss episode!
Show notes:
:00 A quick backgrounder on Brian
1:28 Highlights of the proposal
3:29 Facilitating lending, especially indirect
6:43 Practical impact of evolving technologies
8:38 Impact on participations
10:00 Indirect - Beyond the car loan & the role of CUSOs
11:36 Enhanced significance of CUSOs in the proposal
14:24 Awareness, Relevance & Tech
15:10 Regulations and timing vis a vis economic cycles
17:34 Writing regs for real people and solutions
20:18 Brians wish from the NCUA in 2023
22:53 Build v Buy
24:53 What Brian's looking forward to in 2023