Reps. Pete King (R-N.Y.) and Brad Sherman (D-Calif.) Thursday reintroduced a bill that would permit the NCUA to allow healthy and well-managed credit unions to accept supplemental forms of capital.
NASCUS said in a release that state credit union regulators have long recognized credit unions are disadvantaged by a capital structure limited to retained earnings. This legislation would provide the solution to this problem, the group said.
"NASCUS applauds the introduction of this bill and enthusiastically supports its intent and passage by Congress," said NASCUS President/CEO Mary Martha Fortney. "For NASCUS and state regulators, access to supplemental capital for credit unions has always been a matter of safety and soundness."
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
