MONTREAL – The NCUA’s proposals on risk based capital have raised concerns among credit unions, trade associations and even members of Congress. Earlier this month, the Congressional bill H.R. 2769 was introduced (informally known as the “stop and study bill”), which directs the NCUA to reevaluate its proposed RBC rule and justify its merits, as well as explain the agency’s authority to impose this directive on the credit unions it regulates.

CUNA and NAFCU agree that the RBC rule, both in its current iteration and the revised version that has fallen under Congressional scrutiny (RBC2), still raises significant concern for credit unions. However, while NAFCU strongly supports the stop and study bill, calling it a crucial element of giving RBC2 the scrutiny it deserves, CUNA President/CEO Jim Nussle deemed it remote, according to the contents of a confidential email from CUNA President/CEO Jim Nussle to league executives obtained by CU Times.

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Natasha Chilingerian

Natasha Chilingerian has worked in the credit union space for over a decade. She joined CU Times as managing editor in 2015 and was promoted to executive editor in 2019. Before that, she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union) in Los Angeles from 2013-2015, and as a CU Times freelancer from 2011-2013. She has been a professional writer and editor for more than 17 years, specializing in news and lifestyle journalism as well as marketing copywriting for companies in the finance and technology space.

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