Sen. Mike Rounds (R-S.D) introduced a Senate version of a CUNA-backed bill to delay implementation of NCUA’s risk-based capital (RBC) rule by two years, to January 2021. NCUA finalized a rule in October to delay the rule’s implementation by one year, to January 2020.
“CUNA maintains that NCUA’s risk-based capital rule is a solution in search of a problem, a position we’ve held since the rule was first proposed,” said CUNA President/CEO Jim Nussle. “We support any legislative means to reduce the rule’s impact on credit unions.”
Rounds’ bill, the Common Sense Credit Union Capital Relief Act of 2018 (S. 3750), has a House companion, H.R. 5288, introduced by Rep. Bill Posey (R-Fla.) in March.