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Commentary

RBC Challenge Imperative: Letter to the Editor

The NCUA's risk-based capital rule harms credit unions and members by directing earnings to capital with little benefit to members.

By Dennis Moriarty | Updated on January 29, 2015

Read your take on why a RBC legal challenge is a waste. (“RBC Legal Challenge Is a Waste,” Jan. 28, 2015, Credit Union Times) Honestly surprised to hear you think that CUNA and NAFCU would be wasting time and effort as well as a considerable amount of cash on fighting something that harms credit unions and in the vernacular of the street is a ”lot of crap”. Most commentators have already noted that this is stupid and unnecessary but putting this aside for the moment your assertion begs the question. Just what do you think CUNA, NAFCU and the other groups should do? Should they roll over and play dead? Perhaps they should just ignore the whole thing and wait for the next threat to ignore as well. Are you kidding me?

Challenging NCUA on this issue is not only right it is an imperative for the Trades. Failure to represent the credit unions they serve would just be another silent yet defining statement of their unwillingness to fight for the credit unions they represent no matter what the cost.

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