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More Than 1,900 Comments Sent to NCUA on RBC2
Tuesday, April 28, 2015 6:35 AM

The comment period for the revised risk-based capital (RBC2) proposal has closed, and more than 1,900 comment letters were filed as of late Monday afternoon—close to the same number as were submitted on the original proposal.

"The fact that about as many credit unions will comment on this second proposal as did on the first is an indication of the interest and concern credit unions still have with the issue," said Bill Hampel, CUNA's chief policy officer. "It's also evidence that issuing the proposal for a second comment period was the right thing to do."

CUNA anticipates the National Credit Union Administration will issue a finalized version of RBC2 in late 2015 at the earliest. "The NCUA has a lot of reading to do before producing a final rule," Hampel said. "In our comment letter, we recommended withdrawing the plan because it's just not needed. If the board decides to proceed, we expect it will take until late this year or early next year to finalize a rule."