NCUA Board to consider RBC rule, but not bank merger plan

Two key issues are not on the agenda for the NCUA's final board meeting of the year.

NCUA headquarters

The NCUA board on Thursday will vote on a final rule that likely will delay the effective date of its Risk-Based Capital regulation but will not discuss a plan governing credit union-bank purchases that Chairman Rodney Hood said the agency would consider by the end of the year.

A key House Republican said this week he is worried about that trend, raising the possibility that financial institutions might be using the process to evade taxes.

Agency officials Friday declined to discuss the status of any credit union-bank purchase plan.

Earlier this year, the board approved a proposed rule that would delay the effective date of the RBC rule from Jan. 1, 2020 to Jan. 1, 2022. The lone Democrat on the board, Todd Harper, voted against that plan.

 

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