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Disappointing that NCUA reluctant to consider important changes to RBC proposal

Statement by CUNA’s Bill Hampel in wake of Chicago ‘listening session’ July 10

(July 11, 2014) — Credit Union National Association (CUNA) president and CEO Bill Hampel issued the following statement after attending the National Credit Union Administration’s (NCUA) listening session in Chicago on Thursday, which was (like the first listening session June 26 in Los Angeles) dominated by discussion about NCUA’s risk-based capital proposal.

“It is encouraging that the agency continues to emphasize it is considering changes to the proposal, as NCUA leaders stated at the session in Chicago. But it is disappointing that the agency is so far reluctant to consider some important changes, such as modifying the 10.5% well-capitalized risk-based requirement or retaining the NCUSIF deposit in the risk-based capital ratio.  We will continue to press for changes that are really needed to ensure that a final rule gives credit unions the flexibility to grow and continue offering their members needed services. Several credit unions raised these important issues Thursday, as have more than 2,000 stakeholders who have filed comment letters with the agency and numerous lawmakers who have weighed in. We look forward to another productive listening session next week.”

 

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