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'Listening sessions' on CU capital changes announced by NCUA
WASHINGTON (2/21/14)--The recent risk-based capital proposal and other credit union issues will be open for discussion when the National Credit Union Administration holds three listening sessions this summer. Credit Union National Association President/CEO Bill Cheney on Thursday encouraged NCUA to consider all risk-based capital comments made at the sessions as part of the official administrative record.

Earlier this month, the Credit Union National Association wrote NCUA, encouraging the agency to hold a hearing on the risk based capital proposal. "While any NCUA initiative could be raised by credit unions attending the sessions, the meetings will certainly provide a very important opportunity for credit unions to express their views on the proposal directly to the agency and to hear the responses of their peers," CUNA President/CEO Bill Cheney said in a Thursday letter to the agency.

"We believe the agency, credit unions, and the rulemaking process will benefit from this approach and that all parties will have additional incentives to be prepared with facts and data to support their views," Cheney said.

The sessions, which will be hosted by NCUA Chairman Debbie Matz, are scheduled to be held:
  • June 26 in San Francisco;
  • July 10 in Chicago; and
  • July 17 in the Washington, D.C. area.
All of the three-hour sessions are scheduled to begin at 9 a.m.

Matz noted that previous listening sessions led to regulatory relief and streamlined examination reports. "We are looking forward to another productive series of face-to-face meetings with credit union officials and stakeholders," she added.

Registration for the listening sessions is free. To register, use the resource link.
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