NAFCU-sought RBC ‘stop and study’ bill gaining traction
The “Risk-Based Capital Study Act of 2015” (H.R. 2769) is among a handful of NAFCU-backed regulatory relief bills of interest to credit unions that could get marked-up as early as next week by the House Financial Services Committee.
Brad Thaler, NAFCU’s vice president of legislative affairs, talked about H.R. 2769 as well as H.R. 1266, to replace the CFPB director post with a bipartisan commission, and H.R. 2287, to provide greater transparency to the NCUA budget process, during the association’s member-only call-in Tuesday. He said these bills could be marked up by the full committee this fall, possibly next week.
The RBC study bill was introduced June 15 by Rep. Stephen Fincher, R-Tenn., with Reps. Denny Heck, D-Wash., and Bill Posey, R-Fla., signed on as original cosponsors. The bill, which now has 11 cosponsors, would require NCUA to “stop and study” its second risk-based capital proposal before moving forward with it.
Posey and Heck both spoke in support of the bill during NAFCU’s Congressional Caucus last week in Washington. Other Caucus speakers rallying to credit unions on RBC were House Financial Services Vice Chairman Patrick McHenry, R-N.C., and Rep. Sean Duffy, R-Wis., chairman of the House Financial Services Subcommittee on Oversight and Investigations.continue reading »