CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Credit Union Magazine
    • Buyers' Guide
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Jobs
  • Contact

News

Home » House passes CUNA-supported RBC delay
Press

House passes CUNA-supported RBC delay

July 17, 2018

FOR IMMEDIATE RELEASE   

CONTACT: Lauren Williams – CUNA Communications; (202) 626-7642; lwilliams@cuna.coop

Washington, DC (July 17, 2018) – The JOBS and Investor Confidence Act of 2018 (S. 488) just passed the House in a 406-4 vote. Title XVII of the House Amendment would delay the risk-based capital rule recently finalized by the National Credit Union Administration (NCUA). Credit Union National Association (CUNA) supports the measure as it reduces the impact on credit unions by pushing the effective date from January 1, 2019 to January 1, 2021.   

“We commend the House Financial Services Committee for pushing this legislation through as it rectifies the need for unnecessary capital requirements on credit unions,” said CUNA President/CEO Jim Nussle. “Credit unions across the country have expressed their well-founded concerns regarding NCUA’s risk-based capital rule and their voices have been heard." 

CUNA sent a letter to address NCUA's parameters of legal authority to impose risk-based capital requirements and call into question whether the cost is justified. Analysis from the trade group shows that the regulatory burden would have done very little to reduce costs to the National Credit Union Share Insurance Fund (NCUSIF) had it been in effect during the most recent financial crisis.  

###        

About CUNA        

Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 110 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org.  

Credit Union Magazine: Rock Stars 2023

Rock Stars 2023

Credit Union Rock Stars are outstanding credit union professionals and directors from a wide range of disciplines who inspire and innovate to advance the missions of their credit unions. The 25 members of the 11th class of Rock Stars were selected for their exceptional creativity, innovation, and passion.
Digital Edition •  Subscribe

Trending

  • Meet the 2023 Credit Union Rock Stars

  • Registration open for 2024 Governmental Affairs Conference

  • Senators introduce bipartisan cannabis banking legislation

Polls

Do you plan to use the FedNow instant payment service?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2023 Credit Union National Association | ADA Compliance Notice & Legal
Email Us