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June 24, 2014 – NCUA will hold the first of its three summer listening sessions tomorrow in Los Angeles and is expected to hear from credit unions on a variety of issues, including the agency's risk-based capital proposal.

NCUA has received more than 2,000 comment letters from credit unions and their trades – including NAFCU – on the proposed rule, and NAFCU is continuing its dialogue with the agency in its effort to ensure any final rule is fair for all credit unions.

Here's a look at what some NAFCU members have said in their RBC comment letters to NCUA:

• "We believe that NCUA is applying a very simple, limited tool for purposes in which it is not well suited," wrote Chevron FCU President and CEO James Mooney, of the effort to address interest-rate risk through capital requirements.
• "Of particular concern … is the flexibility given to examiners to determine, arbitrarily, the need for some credit unions to have a higher risk-based capital requirement," wrote Mission President and CEO Debra Schwartz (a NAFCU Board member). "This is almost guaranteed to cause problems."
• "While we can appreciate NCUA's objectives, we feel that this attempt to capture the myriad risks faced by credit unions with a single blunt tool is imprudent and potentially unsafe," wrote Kinecta FCU President and CEO Keith Sultemeier.

NCUA's listening sessions are slated tomorrow in Los Angeles, July 10 in Chicago and July 17 in Alexandria, Va. NAFCU is encouraging members to attend.