July 22, 2014 – NAFCU President and CEO Dan Berger urged NCUA to consider the concerns of credit unions and lawmakers about its proposed risk-based capital rule and to extend the planned implementation period in an editorial published in Credit Union Times on Monday.“In the end, NAFCU's goal is to help the credit union system thrive, and we need the NCUA to create a regulatory regime that supports that. The next few months have the potential to bring even more rules as the agency moves to address its concerns with interest rate risk,” Berger wrote.“We hope the NCUA will keep in mind that finding ways to cut down on burdensome and unnecessary regulatory compliance costs is the only way credit unions can thrive and continue to provide their member-owners with the financial services and exemplary service they have come to expect from them,” he continued.
Berger noted the more than 2,000 comment letters sent to NCUA about the proposal, as well as the 324 congressional representatives who signed a letter asking NCUA Board Chairman Debbie Matz to consider significant changes to the proposal. He called for an extended implementation period for the proposed rule of at least three years.
Also this week, NAFCU Board Chairman Mike Parsons called for continued advocacy against unnecessary legislation and regulation that would harm the credit union industry, in an editorial for the Credit Union Journal. Parsons’ term as board chairman will come to a close this week with the association’s Annual Conference and Solutions Expo in Las Vegas. Parsons called his time as chairman “a terrific honor” and said he is “looking forward to continuing this work during the remainder of my time as a board member.”