SAN FRANCISCO (6/30/14)--Of all the events slated for the Credit Union National Association's America's Credit Union Conference, which kicks off today, perhaps none is more anticipated than a session covering the National Credit Union Administration's controversial risk-based capital (RBC) proposal.
|NCUA Chair Debbie Matz (far left) speaks to a capacity crowd at the agency's Listening Session in Los Angeles. The regulator told credit unions that there is no race to finalize a RBC plan and said there will be changes to the proposal. Larry Fazio, director of the NCUA Office of Examination and Insurance, also spoke at the Listening Session and will be addressing the proposal at America's Credit Union Conference in San Francisco this week. (California and Nevada Credit Union Leagues Photo)|
Interested attendees, who have streamed into San Francisco's Union Square from far and wide to attend one of CUNA's two marquee annual conferences, will listen in on a panel discussion on the proposal; a discussion that will feature Larry Fazio, NCUA director of the Office of Examination and Insurance.
The discussion panel, which also features CUNA's Interim Chief Economist Mike Schenk; Vice President of Legislative Affairs Ryan Donovan; and Deputy General Counsel Mary Dunn, will take place at 2 p.m. Tuesday. The conference runs through Thursday.
The original RBC proposal would rewrite Prompt Corrective Action rules, substituting risk-weighted asset and capital requirements for the current system of risk-based net worth requirements. The rule would apply to federally insured, "natural person" credit unions with more than $50 million in assets.
While the original proposal could dramatically affect credit unions, NCUA Chair Debbie Matz reiterated Thursday during a spirited administration Listening Session that "everything is (still) on the table" in regards to possible revisions of the plan (News Now June 27).
But the lesson in risk-based capital, and its implications for credit unions, is far from the conference's only draw.
Four influential leaders will headline the week's keynote speaking lineup as well, including:
Other noteworthy happenings: