What requirements apply to subsidiary CUSOs?

CFR · 2024-01-01 · US · Title 12

(a) (b) (1) All applicable state laws and rules regarding CUSOs; and (2) All of the requirements of this part that apply to FISCUs, which are listed in § 712.1. The requirements of this part that apply to FISCUs apply to all tiers or levels of a CUSO's structure. (c) For purposes of this section, a subsidiary CUSO is any entity in which a CUSO has an ownership interest of any amount, if that entity is engaged primarily in providing products or services to credit unions or credit union members.

official document · source cfr-2024 · id 12:§ 712.11