Removing Barriers Blog

Sen. Rounds Introduces Companion Bill to RBC Delay
Posted December 14, 2018 by CUNA Advocacy

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. Senator Rounds' introduction of the RBC delay bill in the Senate is a push for the Senate to act on Jobs 3.0 with the hope that it will be included in the forthcoming spending bill.