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Treasury Releases Regulatory Report, CUs Addressed
Tuesday, June 13, 2017 6:50 AM

The Department of the Treasury released a report Monday outlining more than 100 changes to financial regulations.

The Treasury Department recommends:

  • Revising the risk-based capital requirements to only apply to credit unions with total assets in excess of $10 billion or eliminating altogether RBC requirements for credit unions satisfying a 10 percent simple leverage (net worth) test and allowing credit unions subject to RBC requirements to have access to supplemental capital;
  • Ensuring an extended examination cycle of at least 18 months and extending that relief to institutions above $1 billion in assets;
  • Having the CFPB provide rulemaking or guidance on UDAAP;
  • Reforming the governance of the CFPB, including the possibility of changing the sole director to a bipartisan commission; and
  • Better tailoring of regulations and raising thresholds of their application, including regulations on qualified mortgages.

Credit Union National Association is analyzing the report. The majority of the changes would be made at the regulatory level, not through legislation.