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.