CUNA supports NCUA’s proposed changes to its regulations governing corporate credit unions, it wrote to the agency Friday. CUNA filed its letter in response to the proposal’s revisions to provisions on retained earnings and Tier 1 capital.
In 2010, the NCUA revised the corporate credit union regulation in response to the financial crisis, curtailing several practices and implementing a Prompt Corrective Action regime stipulating capital adequacy for corporate credit unions.
This proposal comes as corporates’ financial conditions have improved, as has the overall economy.
Specifically, CUNA supports NCUA’s proposals to: