The impact of the Wall Street meltdown and the Great Recession it caused is still being felt on main streets across America. New laws and regulations continue to be proposed to help with the nation’s recovery and to prevent another crisis. A proposal by the NCUA regarding risk-based capital has gotten much attention.

It has been well-reported that CUNA believes this proposal should be withdrawn. The remarkable resiliency of credit unions now and during the recent, severe financial crisis indicates to us that there simply isn’t a need for a major increase in capital requirements. This is also a view shared by numerous industry groups and associations, 324 members of the House of Representatives, several senators, former Senate Banking Committee Chairman Alfonse D’Amato, and former Speaker Newt Gingrich.

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