Congress Joins Credit Unions in Urging NCUA to Reconsider its Risk-Based Capital Proposal

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.

NCUA Proposal Would Revise Risk-Based Capital Requirements

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.”