WASHINGTON-CUNA and NAFCU were cautiously optimistic over NCUA Chairman Dennis Dollar’s suggestion at last month’s CUNA Governmental Affairs Conference that the trade groups lobby for a risk-based system of prompt corrective action. CUNA Chief Economist Bill Hampel explained that Dollar’s recommendation would require basic leverage requirements and a risk-based capital requirement “more like the sort of capital requirements that banks have,” which are lower than credit unions. Hampel said that Dollar’s proposal is a step in the right direction as long as it takes into account the unique nature of credit union operations. CUNA Vice President of Legislative Affairs and Senior Legislative Counsel Gary J. Kohn emphasized that CUNA still needs to do some research into the idea. NAFCU Communications Manager John Zimmerman offered, “We have been very receptive in the past to risk-based ideas.We just think this is a big, potentially pretty important proposal that we wanted to take time to look at it.”

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