Credit unions have one more business day to submit a letter with their thoughts on the NCUA's risk-based capital rule. For the past two months, the League and CUNA have been educating credit unions on the proposal and providing resources to write the letter. Even though the NCUA has heard from many credit unions, they need to hear from you.
LSCU Risk-Based Capital Resource page to see sample comment letters, a video explaining the rule with tips on writing the letter and a calculator to see how the rule will affect your credit union. The NCUA board has acknowledged that changes will need to be made on the proposed rule, but don't rest on your laurels. The NCUA needs to see that as many credit unions as possible will be adversely affected by the rule. If you have any questions, contact LSCU VP of Compliance Training and Information
Bill Berg at 866.321.0545 ext. 1028 or Director of Regulatory Affairs
Scott Morris at ext. 2165.