Press
NAFCU statement on inclusion of risk-based capital concerns into manager’s amendment of House appropriations bill
WASHINGTON D.C. (June 17, 2015) — National Association of Federal Credit Unions (NAFCU) Vice President of Legislative Affairs Brad Thaler issued the following statement on the approval of language to accompany the fiscal 2016 “Financial Services and General Government Appropriations” bill that urges the National Credit Union Administration (NCUA) to “give careful consideration” to credit unions’ comments in response to the NCUA’s second risk-based capital proposal (RBC2).
“We thank the leadership of the committee, especially Committee Chairman Hal Rogers (R-Ky.) and Ranking Member Nita Lowey (D-N.Y.) and Subcommittee Chairman Ander Crenshaw (R-Fla.) and Ranking Member José Serrano (D-N.Y.), for working with NAFCU to get the language incorporated into the manager’s amendment of the committee report accompanying the fiscal 2016 ‘Financial Services and General Government Appropriations’ bill.”
Thaler also wrote the committee leaders on this issue ahead of today’s mark-up urging inclusion of language addressing RBC2. NAFCU will continue to monitor the bill’s progress as it moves forward.
The report accompanying the bill is designed to provide the Committee’s non-binding views on issues relating to the agencies funded by the bill. The report also included language supporting regulatory coordination among the federal financial regulators, as NAFCU has long urged.
In addition, the report includes several observations about the Consumer Financial Protection Bureau (CFPB), including support for the Credit Union Advisory Council and the issue of structural changes at the bureau, such as the proposal to replace the CFPB’s single director post with a bipartisan commission. NAFCU has supported such a change to ensure a diversity of views for CFPB leadership.
The National Association of Federal Credit Unions is the only national trade association that exclusively represents the interests of federally chartered credit unions before the federal government and the public.