NCUA’s Metsger, CUNA’s Nussle dialogue on FOM, IRR, RBC2 rules

CUNA President/CEO Jim Nussle and National Credit Union Administration Vice Chair Rick Metsger met Monday to discuss a number of top credit union regulatory issues at the agency, including field of membership, interest-rate risk and the risk-based capital proposal.

Nussle told Metsger CUNA’s Federal Credit Union Subcommittee has been working for several months on a series of recommendations on field-of-membership rules, which the subcommittee hopes to deliver to NCUA in late May or early June.

Metsger has encouraged credit unions to be more engaged in FOM rule reforms. For instance, at CUNA’s Governmental Affairs Conference in March, he said he hoped the credit union community would work to educate Congress on FOM recommendations that would require a change to the Federal Credit Union Act. Also, late last year the NCUA announced formation of an FOM working group.

Metsger said that he appreciates CUNA’s thoughtful input and looks forward to seeing the detailed suggestions on field of membership that CUNA will be supplying.

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