NCUA Board Member J. Mark McWatters said he would vote against the final risk-based capital rule if the NCUA proceeds with a two-tier risk-based capital system.
He also said the agency does not need authority over third party vendors, including CUSOs. Board Chairman Debbie Matz has called the effort a top legislative priority.
If there is substantial pushback from the industry on the revised risk-based capital proposal, McWatters predicted a congressional hearing would result, in the House or Senate. The lone Republican on the NCUA board also confirmed that he recently attended a meeting at the Federal Reserve but declined to provide details.
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