In response to the NCUA's new risk-based capital rule: Wait long enough and history will repeat itself. The Basel accord was first proposed 20 years ago or so for corporate credit unions. It took a couple of years to work through the regulatory process but finally became regulation. Guess what happened next?
The NCUA chose to ignore it in the examination of corporates. How could they ignore their own regulations? I'm not sure and it still baffles me. One question: Why is an international standard for the banking community far too liberal for credit unions?
Don W. Finn CEO (retired)
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Mid-States Corporate Federal Credit Union
Naperville, Ill.
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