WA DFI releases guidance on indirect lending for state-chartered credit unions; your question answered on Equal Opportunity Notice signage; plus this week’s legal briefs.
Inclusion of secondary capital in RBC ratio is a big win for Northwest credit unions, but the rule remains “a solution in search of a problem” says Nussle.
A vote on the final version of the National Credit Union Administration’s revised risk-based capital proposal is on the agenda for the agency’s October 15 meeting.
The NWCUA learned that the regulator is taking comments on RBC seriously. Expect new proposal and separate rule for interest rate risk.
Credit unions have until May 28 to comment on the NCUA’s Risk-Based Capital proposal, and those who can’t submit their own letters still have time to add their names to the NWCUA’s strongly worded missive.
NWCUA Board Chair Debie Keesee is urging the nation’s small credit unions to add their voices to the debate over the NCUA’s Risk-Based Capital proposal, saying that “if adopted as proposed, it will have significant negative impact on the movement, including small credit unions like yours.” Keesee, president and CEO of Spokane Media Federal Credit Union, wrote the letter on behalf of CUNA’s Small Credit Union Committee, which she chairs.
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.
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.
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.”
Do I have to provide a Risk-based Pricing Notice with the pre-approved credit card offers we send out?
The Federal Reserve System will conduct a webcast on risk-based pricing notices on February 16. This webinar is part of an ongoing series focused specifically on consumer compliance issues.