More than 320 members of Congress are urging the National Credit Union Administration to make “changes and clarifications” to its Risk-Based Capital proposal as the May 28 deadline for credit unions to submit their own comments nears. Meanwhile, a former chairman of the Senate Banking Committee is telling the agency it would exceed its legal authority if it adopts the proposal as written.
U.S. Rep. Suzan DelBene has added her name to the Capital Access for Small Businesses and Jobs Act, saying supplemental capital would “allow financially healthy credit unions to continue meeting the needs of their customers and strengthening our economy.”
Credit union CEOs and their leadership teams can mix business with pleasure at the 2014 CUES Council/NWCUA Executive Summit, which will be held July 30-Aug. 1 at the beautiful Sunriver Resort in central Oregon. Reservations are being accepted now.
Susan Streifel, the president and CEO of Woodstone Credit Union and vice chair of CUNA’s executive committee, says the future of the credit union system rests on the NCUA getting its Risk-Based Capital proposal right. Credit unions should assess the rule’s impact, she says, and let the regulator know how it will affect future performance.
With 2013 in the rear-view mirror, Anthem asked Northwest credit union presidents and CEOs to reflect on the past, consider what lies ahead and talk about the challenges — and the opportunities — that await credit unions in 2014. Today: Jim Morrell, president and CEO of Peninsula Credit Union.
Woodstone Credit Union President/CEO Susan Streifel and other members of CUNA’s executive committee talk about the long-term implications of the NCUA’s Risk-Based Capital proposal in a new video that urges credit unions to get involved in the nationwide effort to improve the rule.
Can the NCUA’s proposed Rick-Based Capital Rule be fixed? That’s the question CUNA will ask in a free one-hour webinar that will explore key aspects of the proposal. The webinar is scheduled for Wednesday, March 19, and is limited to the first 500 registrants.
It’s the first full day of the 2014 Governmental Affairs Conference in Washington, D.C., where more than 4,400 credit union advocates – including 225 from the Northwest – have gathered to spread the credit union message and address key issues facing the movement.
Your weekly update on the regulatory landscape.
Credit unions with assets of more than $50 million would be subject to revised risk-based capital requirements under a proposal announced Thursday by the National Credit Union Administration that would require a risk-based capital ratio of 10.5 percent to be classified as “well capitalized.”
U.S. Rep. Denny Heck became the first member of the Washington delegation to add his name to the Capital Access for Small Businesses and Jobs Act this week, saying “supplemental capital lets us avoid the perverse situation of successful credit unions having to turn away deposits.”
Three Northwest credit unions have been awarded nearly $700,000 from the U.S. Treasury Department’s Community Development Financial Institutions fund for financial and technical assistance. The awards enable CDFIs to increase lending and investments in low-income and economically distressed communities.
The anticipated announcement from the NCUA that a new risk based capital framework will be built for credit unions is included in our regulatory legal briefs this week. CFPB Director Richard Cordray’s remarks to the Senate and Federal Reserve Chair Ben Bernake’s address to the National Bureau of Economic Research Conference are included as well.
The Spring Hike the Hill brought dual value to Northwest Credit Union leaders. They met face-to-face with federal legislators as reported earlier, and had high-level dialogue with top regulators at the NCUA and CFPB.
Credit unions leveraged a rare opportunity to share details about the regulatory burden during a Congressional hearing yesterday. The hearing sets the stage for a regulatory relief bill.
With SB 520 scheduled for a vote in the Oregon Senate General Government, Consumer, and Small Business Protection Committee next Friday, the Oregon Legislature is also considering NWCUA-supported proposals to increase funding for the Oregon Growth Board and Clean Energy Works Oregon.
NWCUA Board Chair Debie Keesee took part in a panel discussion about supplemental capital and its relationship to credit unions’ future growth potential during last week’s CUNA GAC, joining CUNA’s Mike Schenk, a Utah credit union regulator and a fellow credit union CEO in dispelling myths and sharing information.
As credit unions continue to advocate for increased MBL capacity, the CAP program, a government-funded initiative available to financial institutions on a state-by-state basis, can help credit unions connect with small businesses in need of loans while offsetting some of the accompanying risk.