The essence of strategy is choosing what not to do, according to Harvard Business School Professor Michael E. Porter. Such is the case for credit unions and their trade associations during the next round of dealing with the NCUA’s risk based capital rule.

From CUNA and NAFCU to Congress and credit unions, all parties appear to agree that proposed risk-based capital requirements in their various iterations are unwarranted, unnecessary and unusually punitive. H.R. 2769, introduced June 15, 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.

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