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NCUA RBC proposal dominates May News Now Top 10
MADISON, Wis. (6/3/14)--The National Credit Union Administration's risk-based capital (RBC) proposal dominated the News Now Top 10 list in May with four entries, including the three most-read articles.
 
The comment deadline for the proposal was 11:59 p.m. (ET) May 28. The NCUA logged in 1,850 comment letters on its risk-based capital proposal as of Thursday morning ( News Now May 30). The Credit Union National Association encourages credit unions to stay engaged in the RBC regulatory process as the NCUA works to create a final rule.
 
CUNA's announcement of Bill Hampel as interim CEO, effective June 11, was the fourth most-read article in May. Hampel currently serves as CUNA's chief economist and senior vice president of policy and analysis.
 
On June 11, Bill Cheney, CUNA's current president/CEO, returns to California to become president/CEO of Santa Ana-based $9.8 billion-asset SchoolsFirst FCU, the largest credit union in that state.
 
The Top 10 list for May:

10. Mobile banking usage tied to time, day

AUSTIN, Texas (5/5/14)--Financial institution members and customers are switching to the mobile channel as their exclusive choice for remote account access, according to mobile banking provider Malauzai Software's latest Monkey Insights "little-data" report.
 
9. Senators call for quick passage of privacy notification tweaks

WASHINGTON (5/9/14)--Sens. Sherrod Brown (D-Ohio) and Jerry Moran (R-Kan.) this week called on colleagues to follow up on the release of a new Consumer Financial Protection Bureau privacy notification proposal by supporting their own bill, The Privacy Notice Modernization Act.
 
8. Mixed emotions for Tinker FCU one year after the storm

OKLAHOMA CITY (5/20/14)--One year ago today a half-mile-wide tornado destroyed Tinker FCU's (TFCU) branch in Moore, Okla. While the EF5 tornado devastated much of the Moore area, killing 24 people and injuring 377 others, it somehow spared 23 employees and members who took shelter in the branch's vault.
 
7. CUNA: Risk-based capital plan has 'serious flaws,' should not proceed

WASHINGTON (5/28/14)--The NCUA should not proceed with its proposed rule RBC, CUNA wrote in its comment letter submitted today. CUNA believes that the proposal has serious flaws and could damage credit unions, and has recommended that the proposal be withdrawn on the grounds that the NCUA has not established economic or legal grounds as a basis for their proposed changes.
 
6. Senate Banking approves Johnson-Crapo housing finance reform bill

WASHINGTON (5/15/14 UPDATED 11:07 a.m. ET)--The Senate Banking Committee voted this morning to approve its Housing Finance Reform and Taxpayer Protection Act of 2014 (S. 1217). The vote was 13-9.
 
5. CU relief bills sail through House vote

 WASHINGTON (5/6/14)--Three credit union regulatory relief bills were adopted by the U.S. House this evening. The bills, two of which are stand-alone credit union measures, are all important steps in CUNA's larger relief agenda and attack credit union regulatory burden from a number of fronts.
 
4. Bill Hampel named interim president/CEO of CUNA, effective June 11
 
WASHINGTON (5/7/14 UPDATED 2:15 ET)--Current CUNA Chief Economist Bill Hampel will be interim president/CEO of CUNA, effective June 11, the same day that Bill Cheney, the current president/CEO, returns to California to become president/CEO of Santa Ana-based SchoolsFirst FCU, the largest credit union in that state.
 
3. Court keeps NCUA N.Y. RMBS suit alive

NEW YORK (5/16/14)--The District Court of New York has denied a motion to dismiss a lawsuit involving the NCUA and Wachovia Capital Markets, LLC, now known as Wells Fargo Securities, LLC.
 
2. Concerned about RBC proposal, 75% of U.S. Reps. sign letter to NCUA

WASHINGTON (5/13/14 UPDATED 9:30 A.M. ET)--A bipartisan collection of more than 320 U.S. House members have joined Reps. Peter King (R-N.Y.) and Gregory Meeks  (D-N.Y.) to express their concern over the NCUA's proposed risk-based capital regulation.
 
1. Former Speaker Gingrich: RBC proposal 'extraordinarily troubling'

WASHINGTON (5/27/14)--Former Speaker of the House Newt Gingrich, who worked on amending the Federal Credit Union Act in 1998, submitted a letter Friday to the NCUA regarding its risk-based capital (RBC) proposal, calling the proposal "extraordinarily troubling."


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