Senate Banking Committee Chairman Tim Johnson (D-S.D.) and Ranking Member Mike Crapo (R-Idaho) wrote to NCUA Board Chairman Debbie Matz with concerns from credit unions in their respective states about the agency's proposed risk-based capital rule.
The senators said in the June 4 letter that some credit unions located in rural areas are concerned the proposed risk-weights would negatively impact their ability to provide agricultural loans to their members.
"Credit unions play an important part in providing credit to rural communities in states like South Dakota and Idaho, and a decrease in their ability to lend could be detrimental to these communities," the senators wrote.
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