CUNA supports 3 reg relief bills in letter to HFSC
CUNA wrote to House Financial Services Committee leadership Thursday in support of several regulatory relief bills being discussed at the committee’s hearing. The bills would provide relief on several fronts.
The Common Sense Credit Union Capital Relief Act of 2017 (H.R. 4464) was introduced by Rep. Bill Posey (R-Fla.). It would repeal NCUA’s risk-based capital rule.
“Credit unions throughout the United States have expressed significant concern over the NCUA’s risk-based capital standards rule which imposes risk-based capital standards for the purpose of determining whether a credit union is well-capitalized,” CUNA President/CEO Jim Nussle wrote. “Credit unions are concerned with NCUA’s legal authority to implement such standards and the substantial regulatory burdens and additional cost they impose.”
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