CUNA letter supports amendment to JOBS Act

CUNA issued a letter urging House leadership to Title XVII of the House Amendment to S. 488, the JOBS and Investor Confidence Act of 2018, which would delay the risk-based capital rule recently finalized by the NCUA..

Credit unions … have expressed their significant concerns regarding the NCUA’s risk-based capital standards for credit unions,” the letter reads. ”Specifically, many of these concerns pertain to whether NCUA has legal authority to impose the requirements. In addition, credit unions have a particular concern with risk-based capital standards for the purpose of determining whether a credit union is well-capitalized as the Federal Credit Union Act permits the NCUA to impose a risk-based standard for the purpose of determining capital adequacy only.

 

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