Time to Gear Up Efforts for Capital Reform
NCUA Chairman Debbie Matz reaffirmed her support for supplemental capital for credit unions at WOCCU’s annual meeting. Credit unions’ need for capital reform can only heighten. But permitting the NCUA to define prompt corrective action buckets requires action by Congress.
Once Washington moves past the debt ceiling mess, credit unions need effective lobbying action on the issue of capital reform. The NCUA now has two Capitol Hill professionals, Democrats Todd Harper and former Texas league lobbyist Republican Buddy Gill. The issue is a real safety and soundness concern for the NCUA, so while the agency technically doesn’t “lobby” Congress, it can provide guidance on matters such as capital reform.