ALEXANDRIA, Va.—NCUA Board Member J. Mark McWatters said the NCUA does not have the authority to implement a two-tier risk-based capital system.
After the revised risk-based capital proposal was presented at the NCUA Board meeting on Thursday, McWatters said a one-tier system is more appropriate.
McWatters, who voted against the proposed rule, said the agency should have designated credit unions as complex only after an analysis of each credit union's portfolios. The revised proposal was approved by a 2-1 vote.
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