Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NEW: CUNA RBC letter details plan's flaws, urges withdrawal
WASHINGTON (5/29/14, UPDATED 8:04 a.m. ET)--In a 47-page comment letter to the National Credit Union Administration, the Credit Union National Association Wednesday underscored the inherent flaws and damaging impact the agency's risk-based capital plan would generate, and recommended that the proposal be withdrawn. CUNA said the regulator has not provided an adequate justification for the major changes it is proposing.

The CUNA comment letter, signed by CUNA President/CEO Bill Cheney, emphasizes CUNA's willingness and desire to  work with the NCUA on both a comprehensive strategy and on a narrower new rule approach.
 
"Credit unions have been subjected to a number of new rules in the wake of the financial crisis, but none of them is as potentially harmful as this proposal," the CUNA comment letter, signed by CUNA President/CEO Bill Cheney, states.
 
"Indeed, the economic and legal issues spawned by the proposal are numerous, the policy questions are real, and, as evidenced by the overwhelming level of interest in this rule, the stakes for credit unions and their 99 million member owners could not be higher," the CUNA letter states.
 
Use the resource links to access the full News Now story and to access the CUNA comment letter.
RSS





print
News Now LiveWire
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
17 hours ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
18 hours ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
19 hours ago
You can get your subscription to @cuna 's free, daily, online #creditunion #news service News Now here: http://t.co/YtUejEmAYP
19 hours ago
CCUA hosts @TheNASCUS college for #creditunion directors http://t.co/CftpSXDKWx
22 hours ago