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NAFCU Applauds Chairman Johnson and Ranking Member Crapo letter to NCUA on Risk-Based Capital Proposal

WASHINGTON, DC (June 4, 2014) -- National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger issued the following statement today regarding the letter sent by Senate Banking Committee Chairman Tim Johnson (D-S.D.) and Ranking Member Mike Crapo (R-Idaho) to the National Credit Union Administration on the agency’s risk-based capital proposed rule:

“We appreciate Chairman Johnson’s and Ranking Member Crapo’s leadership and support on this critical issue,” said Berger. “The potentially devastating impact of the risk-based capital rule cannot be overestimated. We hope NCUA will heed the avalanche of concerns raised by both in the industry and on the Hill should they decide to move forward.”

NCUA reported having counted more than 2,000 comments letters on this proposed rule. The agency is still processing comment letters.

NAFCU supports legislative changes to create a fair risk-based capital system for credit unions.

 

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The National Association of Federal Credit Unions is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public. 

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