PRESS RELEASE

June 16, 2015– For immediate release

COMMENT BY NASCUS PRESIDENT AND CEO LUCY ITO
ON INTRODUCTON OF THE CREDIT UNION RISK-BASED CAPITAL STUDY ACT OF 2015

‘Taking additional time on RBC(2) proposal has merit’

On Monday (June 15), Reps. Stephen Fincher (R-TN), Bill Posey (R-FL), and Denny Heck (D-WA) introduced legislation requiring NCUA to conduct a study on the appropriate capital requirements for credit unions before implementing its second risk-based capital proposed rule. NASCUS President and CEO issued the following statement:

“Taking additional time on this proposal does have merit. Changes made by NCUA to its current version of the proposal were significant improvements over the original and we acknowledge that.  Still, further refinement of the proposal will help ensure that it is right-sized for the credit union system and does not place credit unions at a competitive disadvantage in the marketplace. Taking time to stop and study, as the Study Act proposes, provides an opportunity to affirm regulatory right-sizing.”

 

Information Contact:
Patrick Keefe, Director of Communications, pkeefe@nascus.org or (703) 528-5974

The National Association of State Credit Union Supervisors (NASCUS) is the primary resource and voice of the state governmental agencies that charter, regulate and examine the nation’s state-chartered credit unions. NASCUS membership is made up of state-chartered credit unions, state regulators and other supporters of the state credit union system. NASCUS is the only organization dedicated to the defense and promotion of the state credit union charter and the autonomy of state credit union regulatory agencies.