NCUA Board Proposes Delay of Risk-Based Capital Rule
Friday, August 10, 2018 9:00 AM

The NCUA Board approved five items at its August 2 open meeting:

  • A proposed supplemental rule amending the agency’s prompt corrective action regulations to delay the effective date of the risk-based capital rule and raise the asset threshold defining a complex credit union.
  • A $675,000 operating fund budget transfer to pay for cybersecurity improvements and employee relocation costs associated with the agency’s reorganization.
  • Continuation of the current 18 percent annual interest rate limit for loans, except for loans originated under the payday alternative loan program, through March 10, 2020.
  • A final rule creating new suspension and debarment procedures to better protect the federal government’s interest in only doing business with presently responsible contractors.
  • A proposed rule to add specificity and clarity to current regulations covering loans and lines of credit granted to members and to provide credit unions with regulatory relief.