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CCUL Headlines: Political

NC, SC members of Congress sign RBC letter to Matz

Thursday, May 08, 2014   (0 Comments)
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Updated 5/8/14 at 10:16 a.m.

As credit union advocates in the Carolinas and across the country weigh in on NCUA's risk-based capital proposal, credit union lobbyists have been asking members of Congress to do the same. More than 160 members of Congress, including eight from North Carolina and six from South Carolina, have signed on to a letter authored by Cong. Peter King (R-NY) and Cong. Gregory Meeks (D-NY).

The King-Meeks letter addressed to NCUA Chair Deborah Matz requests that the NCUA Board reconsider its risk-based capital proposal, specifically calling for justification for the proposed risk weights.

"We are writing to encourage the Board to make certain changes and clarifications to the proposal to ensure that the rule does not unduly burden credit union, and does not adversely affect healthy credit unions' ability to meet the needs of their members."

A copy of the full letter can be found here.

Those from the North Carolina delegation that have signed to date include Representatives Butterfield, Coble, Foxx, Hudson, Jones, Meadows, Pittenger, and Price. Representatives Duncan, Gowdy, Mulvaney, Rice, Sanford, and Wilson from the South Carolina delegation also have signed on the letter.

The deadline for members of the House to add their name to the letter is Thursday, May 8.

“We appreciate the support we’ve gotten on this issue from members in both North Carolina and South Carolina,” shared SVP Association Services Dan Schline. “This is a critical issue for credit unions in the Carolinas and the willingness of our members of Congress to weigh in with NCUA will make a difference.”

Schline shared that league lobbyists, working with CUNA, have contacted all members of the House in both states.