Major changes needed if NCUA stress-testing rule advances
While the Credit Union National Association opposed the capital planning and stress-testing proposal issued by the National Credit Union Administration in December, it urged the agency to include significant changes if the board votes to adopt the rule in final form.
The rule is on the agency’s open board meeting agenda today. The final rule would directly impact credit unions with assets of $10 billion or more.
CUNA will also be reviewing carefully the agency’s field-of-membership proposal regarding associational group additions, which is also on the agenda.
Regarding the stress-testing proposal, CUNA cited among its concerns the hefty $4 million total price tag all federally insured credit unions would shoulder for the agency’s implementation of the rule in just the first year.continue reading »