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CCUL Headlines: Compliance

CCUL working group to review NCUA proposal on RBC

Wednesday, March 26, 2014   (0 Comments)
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CCUL President/CEO John Radebaugh announced last week that the league is forming a working group to review NCUA’s recently released risk-based capital proposal.

In an invitation to affiliated CEOs, Radebaugh noted the “proposal will have a dramatic impact on credit unions, particularly in its current form. A coordinated effort is underway to ensure that the NCUA rethinks the proposal and makes significant changes before approving a final rule.”

Jeanne Couchois, CCUL VP Regulatory/Compliance Counsel, is already in the process of gathering feedback from credit unions in the Carolinas and will head up the working group. 

“There are a range of financial and legal considerations related to the proposal,” added Radebaugh. “A working group could provide a forum for us all to discuss and better understand these issues and would certainly help us in crafting a more impactful comment letter to the NCUA.”

Radebaugh also noted the considerable resources available at the national level through the Credit Union National Association (CUNA), encouraging credit unions to begin their review of the proposal by reviewing the resources available at CUNA’s RBC Action Center.

If you or anyone at your credit union would be interested in participating in the RBC working group, please contact Dan Schline at dschline@carolinasleague.org or Jeanne Couchois at jcouchois@carolinasleague.org by Monday, March 31.