ALEXANDRIA, Va. — NAFCU remains concerned about the NCUA requiring credit unions to hold more capital through the exam process outside of the formal risk-based capital rule, according to Carrie Hunt, NAFCU SVP of government affairs and general counsel.
"In the original proposal, there was a requirement, it was called the individual capital requirement. Under the original proposal, NCUA could make a credit union hold more capital, external to what was required by the rule," Hunt told CU Times after the NCUA Board meeting Thursday.
She added, "It was very unclear under the proposal whether the NCUA examiner would be able to just make the decision or whether it was an NCUA Board issue. So, NCUA went ahead and eliminated that from the proposal."
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