The NCUA board on Thursday agreed to seek public comment on proposed rules that would eliminate the requirement that the agency approve the capital plans for federally insured credit unions with assets of $10 billion or more and allow credit unions to conduct their own stress testing.
"So, we have regulatory relief and budget savings," Board Chairman J. Mark McWatters said, following a presentation on the proposed rules. "Seems like a good idea to me."
Board member Rick Metsger said that one of his priorities has been to allow credit unions to conduct their own stress tests.
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