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Toward the Finish Line: Risk-Based Capital Proposal Deadline Looms
Tuesday, May 20, 2014 7:00 AM

The National Credit Union Administration's risk-based capital proposal has been drawing a lot of attention from Congress and leagues across the country due to its high-priority concerns, including its economic impact, potential adverse effect on credit union members, compliance with current laws, risk-weight values higher than banks, and the short 18-month time frame allotted for compliance. Only five days remain now until the May 23 deadline for getting those comment letters on record.

Is it time to get your letter in?

To date, Cornerstone credit unions have submitted 84 comment letters, but we must do more. We must continue to press our case over the next few days so that NCUA has no doubt as to our resolve for ensuring modifications are made to this critical proposal.

Last week, on behalf of Cornerstone Credit Union League, CEO Dick Ensweiler wrote to Gerard Poliquin, Secretary of the Board for NCUA, to outline his objections to the agency's RBC proposal. You can read this letter in its entirety in the compliance section of the Cornerstone website.

If you have questions about the RBC proposal or crafting your comment letter, please see our website at www.cornerstoneleague.coop/comment_calls.html, or contact Suzanne Yashewski, SVP Regulatory Compliance Counsel, at (512) 853-8516 or syashewski@cornerstoneleague.coop.