Board member says the opinion provided only “modest support” for a two-tier risk-based net worth system.
NAFCU calls amount “astronomical,” CUNA mum on what it spent on a separate legal opinion on risk-based capital.
The NCUA's risk-based capital rule harms credit unions and members by directing earnings to capital with little benefit to members.
Dennis Fisher of the $7M First Security CU says CUNA, leagues and regulators may have regrets in taxation fight.
The two-tier RBC ratio doesn’t just raise legal questions ... it poses a very real cost concern for healthy credit unions.
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?
Trade group’s analysis shows credit union capital cushions would suffer a $490M hit.
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.