Financial regulation

NCUA Board Member Rick Metsger has thrown down the gauntlet. In recent remarks before the Cornerstone Credit Union League Leadership Conference, Metsger told the critics of the proposed changes to the Risk-Based Capital rule to either get on board or risk (no pun intended) the previously passed rule, for which there is an abundance of criticism, going into effect Jan. 1, 2019.

He explained that the proposed changes were carefully crafted and negotiated through his staff and that of Republican NCUA Chairman Mark McWatters, resulting in a “reasonable, non-partisan compromise.” He specifically took issue with a CUNA comment letter sent to the NCUA calling the RBC rule “functionally unnecessary” and “a solution in reach of a problem.”

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