A bill, The Common Sense Credit Union Capital Relief Act of 2017 (H.R. 4464), was introduced by Rep. Bill Posey (R-Fla.) on November 28th.
The bill would repeal the National Credit Union Administration’s risk-based capital rule, which is currently scheduled to go into effect in January 2019.
The Credit Union National Association is supportive of the legislation.
In related news, National Credit Union Administration Chairman McWatters wrote that the agency will seek to delay the January 2019 compliance date for the risk-based capital rule.
The agency also plans to make additional changes to the risk-based capital rule to reduce its coverage, along with a review of alternative and secondary capital authority.
Read the bill.
Mcwatters wants to tinker with risk based capital rules while some paid off congressman floats a bill.
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