NAFCU urges members to push for RBC2 ‘stop and study’

NAFCU Vice President of Legislative Affairs Brad Thaler on Monday urged association members in districts represented by members of the House Financial Services Committee to contact their offices and ask them to support a bill requiring NCUA to “stop and study” its RBC2 proposal at mark-up this week.

H.R. 2769, the “Risk-Based Capital Study Act,” would require NCUA to study the impact of the proposal’s capital requirements before implementing it as a rule. The House committee is set to mark up this bill and others tomorrow at 10 a.m. Eastern.

Thaler also encouraged members to push for lawmaker support of the other NAFCU-backed bills set to be considered tomorrow, including H.R. 1266, which would replace the CFPB director post with a bipartisan commission.

“A bipartisan commission was originally proposed and supported by Democrats and is the traditional and customary structure for independent federal agencies (including NCUA),” Thaler wrote. “While NAFCU continues to oppose the CFPB having jurisdiction over credit unions, we believe this bipartisan approach could help ensure thoughtful deliberation at CFPB.”

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