The House Financial Services Committee today will continue its mark-up of more than a dozen bills and is expected to report the bills – including NAFCU-backed legislation to repeal the NCUA’s risk-based capital (RBC) rule – to the full House for action.
Pending before the committee is an amendment offered by Ranking Member Maxine Waters, D-Calif., that would delay the RBC rule for two years, until 2021, rather than repeal it in order to give NCUA time to fix the rule and credit unions more time to comply.
The mark-up began yesterday. NAFCU President and CEO Dan Berger sent a letter Monday urging committee members to support the bill repealing the NCUA’s RBC rule – set to take effect Jan. 1, 2019 – and others addressing examination fairness and use of consumers’ identification cards.
continue reading »