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FOR IMMEDIATE RELEASE

NAFCU Statement on NCUA's Action on Risk-Based Capital

Washington (Jan. 23, 2014) - National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger issued the following statement on the National Credit Union Administration's (NCUA) announcement today regarding the agency's actions on risk-based capital.

"The regulatory burden on credit unions is already far too great. Enough is enough," Berger said. "NCUA's risk-based capital proposal will require credit unions to allocate even more resources for regulatory compliance, a move NAFCU strongly opposes.

"NAFCU believes the current regulatory capital system for credit unions is outdated and requires reform, but the reform that is required is legislative.We hope NCUA reconsiders its approach and focuses its energy on securing the necessary legislative changes."

The National Association of Federal Credit Unions is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public.

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Contact: Patty Briotta | 703-842-2820 | pbriotta@nafcu.org