WASHINGTON — NCUA Board Chairman JoAnn Johnson told the House Financial Services Committee that 30% of credit unions would face higher capital requirements under a risk based capital system than they do now.

"There has been a widespread misperception that this [capital reform] is somehow a give-away and it is quite the opposite," Johnson said.

Johnson noted that she had seen statements from banks in the media about the risk based capital system was probably necessary but that "as the fires of competition were stoked" the positions had changed and miscommunication had taken place.

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