ARLINGTON, Va. – NASCUS is in the process of reviewing specifics in the draft report recently issued by NCUA that included proposed changes to net worth standards related to prompt corrective action. NASCUS said it "sees PCA as an ongoing concern and is pleased that NCUA has issued its long-awaited reform proposal, which includes risk-based capital." The association added that "NCUA intends to work with state regulators to consult on capital and net worth considerations for credit unions," as the agency is required to do according to the Credit Union Membership Access Act of 1998.
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