skip to Main Content
Visit DMCPAS.com

NCUA Proposes Another Delay in Credit Union Capital Rules

The National Credit Union Administration continued serving as a credit union industry advocate by proposing another delay in implementing risk-based capital rules for large credit unions.

The proposed rule, approved on a 2-1 vote over the strong opposition of NCUA board member Todd Harper, would delay the effective date by more than two years, to Jan. 1, 2022. The vote follows a one-year delay approved in October 2018 that exempted more than 1,000 institutions under $500 million in assets.

In his dissent, Harper noted that risk-based capital rules went into effect for banks years ago and cited the recent taxi medallion credit union failures as a warning against lax oversight. “We are forgetting the past repeatedly, just like characters in Groundhog Day,” he said.
 
As part of its long-standing call for policymakers to re-examine the credit union industry’s tax and regulatory subsidies, ICBA recently urged Congress to investigate the NCUA’s failure to prevent credit union lending abuses.

Read More from NCUA
Access ICBA Credit Union Resources

Article Link

Source

Leave a Reply

Your email address will not be published. Required fields are marked *

Back To Top