CUNA Submits Comments to NCUA re: RBC Delay Proposal

CUNA Submits Comments to NCUA re: RBC Delay Proposal

On August 30, CUNA submitted comments to the NCUA re: the RBC Delay Proposal.

RBC places significant unnecessary burdens on credit unions and needlessly coerces credit union asset allocations-all at a significant cost to credit union members,” the letter reads. “Should the agency choose to forego common-sense restraint and pursue the RBC rule as re-proposed, CUNA urges meaningful change.”  

The rule would delay the effective date of the rule by one year, to Jan. 1, 2020. It would also raise the asset threshold for defining a complex credit union to $500 million, up from $100 million. According to NCUA, this means 90% of credit unions would be exempt from the rule. 

CUNA continues to support legislative efforts to delay the effective date of the rule for a period of two years, until January 2021.  

Read the letter