NCUA Board Member J. Mark McWatters calls the NCUA's legal argument supporting the authority weak.
Read the entire opinion from Washington law firm Paul Hastings that supports the NCUA's risk-based capital authority.
The NCUA's risk-based capital rule harms credit unions and members by directing earnings to capital with little benefit to members.
Citing the financial crisis as the catalyst for the NCUA's RBC proposal is an overgeneralization of a complex issue.
Winning a legal battle against the NCUA is a long shot. So why waste industry resources on legal opinions?
Insufficient capital during the financial crisis helped caused natural person credit union failures that cost the share insurance fund $750M.
CUNA makes available to members and the press an opinion it obtained in September 2014 that argues the NCUA's risk-based capital rule is illegal.
The event featuring NAFCU staff and the NCUA's Larry Fazio will broadcast from 1 to 2:30 p.m. on Friday.
NCUA Board Member J. Mark McWatters says the rule lacks legal authority.
Review all asset classes included in the NCUA's revised risk-based capital proposal.