NAFCU’s RBC-delay provision also included in House approps bill

NAFCU’s RBC-delay provision has been added to the House Appropriations Financial Services and General Government’s appropriations bill. NAFCU has long advocated for a repeal or delay of this rule, and the association’s efforts proved instrumental in getting the language added to this appropriations bill as well as H.R. 5841, which passed out of the House Financial Services Committee Tuesday.

The House Appropriations Subcommittee on Financial Services and General Government will hold a mark-up of its appropriations bill today. NAFCU Vice President of Legislative Affairs Brad Thaler, in a letter to subcommittee leaders ahead of today’s mark-up, asked that they support the provision.

This RBC-delay provision, also included in the House Financial Services Committee-passed Foreign Investment Risk Review Modernization Act of 2018 (H.R. 5841), comes from the Common Sense Capital Relief Act (H.R. 5288), which was introduced by Reps. Bill Posey, R-Fla., and Denny Heck, D-Wash., in March. NAFCU President and CEO Dan Berger met with Posey and Heck last week to thank them for their ongoing efforts to protect the industry from the adverse effects of this rule.


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