Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NEW: Risk-based capital rule comments due 90 days from tomorrow
WASHINGTON (2/26/14, UPDATED 10:04 a.m. ET)--The risk-based capital rule proposed by the National Credit Union Administration at its February open board meeting--and hotly discussed by credit unions since--is scheduled to be published tomorrow in the Federal Register.

That publication, in a sense a formality, changes nothing but it is consider "constructive notice," meaning interested parties are now noticed that the rule or proposal exists and what its precise parameters and details are.

Often comment periods or effective dates aren't set until the Federal Register notification occurs.

For the risk-based capital rule that means comments will be due 90 days from tomorrow.

The Credit Union National Association urged the NCUA from the start to address credit unions' "deep-seated concerns" regarding the risk-based plan. In fact, CUNA President/CEO Bill Cheney encouraged the regulators earlier this month to hold public hearings on the plan.

Cheney noted that hearings would produce an official record of discussions between credit unions and NCUA leadership that, in addition to comment letters, could assist the NCUA board in determining the best path for proceeding on the rule.

CUNA also has produced a video segment on the steps for writing an effective comment letter on this issue. (See resource link.)
Other Resources

CUNA Inside Exchange Video
RSS





print
News Now LiveWire
Consumer spending is slumping #Market #Economy http://t.co/RI4HS68IuJ
11 hours ago
April is #NationalFinancialLiteracyMonth & @TheNCUA Chair Matz urges #creditunions to help members learn to manage/protect their finances.
13 hours ago
Fed. FI regulators' statmnts on compromised credentials/destructive malware #cybersecurity http://t.co/f4uTBDm1PU http://t.co/zP5Iw6VxZc
14 hours ago
Home prices rising faster than wages: @RealtyTrac #NewsNow #Market http://t.co/wa74mnw3Cu
16 hours ago
.@Nussle dropped by the @ACUMuseum recently. Read about his visit http://t.co/bYe8RRgYLP
17 hours ago