WASHINGTON– The House Financial Services Committee (HFSC) is expected to mark up a bill this week that would make changes to the Committee on Foreign Investment in the U.S. (CFIUS), a
Treasury-led panel that approves foreign-owned merger and acquisition activity.
As CUToday.info reported earlier, the proposed CFIUS rewrite contains a provision that would delay the implementation date for the NCUA's risk-based capital rule to January 2021, a push back of two years from the current effective date of January 2019.
Both credit union trade associations have expressed support for the delay.
“CUNA has maintained since NCUA first proposed the risk-based capital rule that it is a solution in search of a problem, so we support any legislative means to reduce the rule’s impact on credit unions,” said CUNA Chief Advocacy Officer Ryan Donovan.
NCUA’s risk-based capital rule was finalized in October 2015 and would create risk-based capital standards for the purpose of determining whether a credit union is well-capitalized.