Legislation that would prohibit the NCUA from enforcing itsrisk-based capital rule would cost an estimated$400 million in losses over ten years to the Share Insurance Fund,the Congressional Budget Office said.
The House Financial Services Committee has approved the bill,H.R. 4464, sponsored by Rep. Bill Posey (R-Fla.) and supported bycredit union trade groups.
The CBO said the cost to the share insurance fund would occurbecause failed credit unions would have less capital than if therule were in effect increasing the cost to assisting thoseinstitutions.
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