This week: NAFCU pursuing RBC relief, data security standard

by NAFCU Newsroom

The House and Senate are not in session this week, giving credit unions an opportune time to connect with legislators while they’re back in their home districts and states. After the historic passage of the NAFCU-backed regulatory relief package (S. 2155), the association is focused on getting relief from the NCUA’s risk-based capital (RBC) rule and creating a national data security standard.

NAFCU’s Grassroots Action Center has all the resources credit unions need to engage with their lawmakers, including contact and background information on legislative issues. NAFCU lobbyists are also active on Capitol Hill, meeting with staff from House and Senate offices to ensure credit unions concerns are heard. Here is more information on NAFCU’s stances on RBC and data security:

NCUA’s Risk-Based Capital Rule

In recent weeks, NAFCU efforts have led to the inclusion of language to delay the implementation of the NCUA’s RBC rule by two years in two major pieces of legislation: the House Appropriations Financial Services and General Government’s appropriations bill, and the Foreign Investment Risk Review Modernization Act of 2018 (H.R. 5841).

 

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