July 17, 2014 – At least two dozen NAFCU member representatives are set to engage with NCUA Board members and staff about NCUA supervision and regulation, including the agency’s risk-based capital proposal, during today’s final agency listening session this afternoon in Alexandria, Va.“NAFCU and the credit union industry are capitalizing on every opportunity to advance the case for capital requirements that are fair for all credit unions,” said NAFCU President and CEO Dan Berger. “We appreciate NCUA stating it will consider comments received and make changes, and we welcome the agency’s efforts to engage the industry to produce meaningful feedback. We still believe credit unions should have an opportunity to review and comment on any revised proposal before it is issued in final form.”Berger will attend today’s session along with NAFCU Senior Vice President of Government Affairs and General Counsel Carrie Hunt, Director of Regulatory Affairs Mike Coleman and Regulatory Affairs Counsel PJ Hoffman, as well as numerous NAFCU members.NCUA has received more than 2,000 comment letters on NCUA’s risk-based capital proposal. Among those was a letter signed by 324 House members. House Financial Services Subcommittee on Oversight and Investigations Chairman Patrick McHenry, R-N.C., has written and asked NCUA Chairman Debbie Matz for information supporting the proposal by tomorrow.
NAFCU continues to press for significant changes. It wants risk weights that do not place credit unions at a competitive disadvantage with community banks and an implementation period of at least three years.
Today’s session is scheduled for 1 p.m. Eastern at the Hilton Alexandria Mark Center. A recording will be available soon; the recordings of the two previous listening sessions are online now.