ALEXANDRIA, Va.–The NCUA board will vote on its revised risk-based capital proposal at its meeting next week, with one trade group saying it is “disappointed” at the decision.
The board will meet on Thursday, Oct. 15, to consider the revised RBC plan, which has been hotly debated and also the subject of a letter to the agency from NAFCU.
NAFCU CEO Dan Berger wrote that the trade association is disappointed to see NCUA “moving forward with its second risk-based capital proposal, despite the concerns raised by credit unions and Congress as to the rulemaking’s approach, impact, and cost. We firmly believe that NCUA should heed the bipartisan vote of 50 members of the House Financial Services Committee, and not finalize this rule until the industry’s concerns are adequately addressed and NCUA works with Congress to bring about legislative reform that will establish a true and fair risk based capital regime for credit unions.”