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More than 300 members of the House of Representatives recently signed a letter to NCUA Board Chairman Debbie Matz, urging major changes to the proposed risk-based capital rule.

The letter was spearheaded by Rep. Peter King (R-N.Y.) and Rep. Gregory Meeks (D-N.Y.), both members of the House Financial Services Committee.

It urged the NCUA to carefully consider the rule’s economic impact, justify why some risk weights differ from those required of banks, and provide a longer implementation time than the proposed 18 months.

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