NAFCU focused on securing more CU reg relief
NAFCU is focused on securing even more relief for credit unions – such as risk-based capital (RBC) standards and website accessibility requirements under the Americans with Disabilities Act (ADA) – that will improve the regulatory environment in which the industry operates. As the industry’s Washington Watchdog, the association is in constant contact with key lawmakers, regulators and administration officials to do so.
Today, NAFCU is monitoring a House Financial Services Committee mark-up that includes two bills related to financial technology and mortgage loans. NAFCU has also seen progress made on a number of key issues since the enactment of the NAFCU-backed Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155):
NCUA’s RBC rule
Following months of NAFCU advocacy and credit union grassroots efforts, a provision to delay the NCUA’s RBC rule by two years has now passed the House three times. NAFCU is engaged with Senate leaders urging them to also approve the provision.
NAFCU supports an appropriate RBC system for credit unions, but has been opposed to NCUA’s RBC rulemaking since its passage and has urged the rule be delayed, particularly because of increased regulatory burdens and costs.
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