US EditionPRA sets out its approach to Credit Union Service Organisations and intention to consult on rule changes
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Financial services: Regulation tomorrow
Financial services: Regulation tomorrowPRA sets out its approach to Credit Union Service Organisations and intention to consult on rule changes
On 3 April 2025, the Prudential Regulation Authority (PRA) published a letter to directors setting out its approach to Credit Union Service Organisations (CUSOs) and intention to consult on rule changes. The letter from the PRA’s Director for UK Deposit Takers, Laura Wallis, clarifies the current regulatory position with respect to credit unions that hold an investment in, or are users of, CUSOs. She notes that a small number of CUSOs (i.e. enti…
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