Rep. Gary Miller (R-Calif.) introduced the Regulatory Relieffor Credit Unions Act Friday, a bill that would establish arisk-based capital system for credit unions.
“This bill represents a way forward on risk-based capital thatwe believe can get Congressional support,” said incoming NAFCUPresident/CEO Dan Berger.
CUNA President/CEO Bill Cheney said in a letter to Millerfollowing the bill's introduction that the current credit unioncapital regime was imposed on credit unions in 1998, and itincludes leverage ratios and other restrictions that are hardwiredinto the statute.
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