CUNA seeks subcommittee’s scrutiny of key credit union issues in hearing

first_imgIn advance of National Credit Union Administration Chair Debbie Matz’s appearance before a House Financial Services subcommittee this afternoon, CUNA has outlined a number of ways the U.S. Congress and the NCUA can reduce regulatory burden for credit unions.In a letter sent to the House Financial Services subcommittee on financial institutions and consumer credit, CUNA addressed regulatory burden concerns that can be fixed by statutory changes.Regarding NCUA’s revised risk-based capital (RBC2) proposal, CUNA raises questions about the NCUA’s authority to issue such a rule, as well as the capital adequacy requirement.“NCUA should withdraw this proposal,” the letter reads. “In lieu of that, NCUA should improve RBC2 by fixing risk weightings, applying the rule only to adequately capitalized credit unions, as required by the Federal Credit Union Act, removing subjective capital adequacy requirements and allowing supplemental capital to be used for RBC purposes.” continue reading » 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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