July 11, 2014

More lawmakers write NCUA with RBC concerns

July 14, 2014 – Sen. Dean Heller, R-Nev., is one of the latest lawmakers to write NCUA Board Chairman Debbie Matz expressing concerns with the agency's proposed risk-based capital rule. He says the proposal "may be unduly burdensome on credit unions."

"Credit unions in my state have complained that the rule will prompt them to change the way they operate and they will have to spend more time on regulation compliance rather than helping Nevada's struggling economy," Heller, a member of the Senate Banking Committee, wrote. His letter, sent Thursday, asks that NCUA "provide clear guidance on how credit unions should plan for supervision in the future with plenty of time for credit unions to adjust and comply with any new rules."

House Ways and Means Committee member Rep. Kenny Marchant, R-Texas, also wrote Matz concerning the proposed rule Thursday.

House Financial Services Subcommittee on Oversight and Investigations Chairman Patrick McHenry, R-N.C., wrote Matz last week asking her to provide, by July 18, his subcommittee with information to support the agency's risk-based capital proposal.