We need comprehensive capital reform for credit unions, such as allowing access to supplemental capital sources and making the statutory changes necessary to design a true risk-based capital system for credit unions.
To create a true and fair risk-based capital system for credit unions, we believe legislative changes are necessary to bring about comprehensive capital reform for credit unions - such as allowing credit unions to have access to alternative capital sources, and making the legislative changes necessary to design a true risk-based capital system. Capital standards for credit unions must be modernized to reflect the realities and challenges of the 21st century financial marketplace.
How This Impacts You
Credit unions did not engage in the risky lending practices that led to the financial crisis and have not cost taxpayers a single dime. Given the negative impact the NCUA's recently approved risk-based capital proposal could have on credit unions, it has never been more important for Congress to consider allowing credit unions access to alternative capital sources.
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