Reps. Pete King (R-N.Y.) and Brad Sherman (D-Calif.) Thursday reintroduced a bill that would permit the NCUA to allow healthy and well-managed credit unions to accept supplemental forms of capital.
NASCUS said in a release that state credit union regulators have long recognized credit unions are disadvantaged by a capital structure limited to retained earnings. This legislation would provide the solution to this problem, the group said.
"NASCUS applauds the introduction of this bill and enthusiastically supports its intent and passage by Congress," said NASCUS President/CEO Mary Martha Fortney. "For NASCUS and state regulators, access to supplemental capital for credit unions has always been a matter of safety and soundness."
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