Posted On: Jun 06, 2014
Sens. Tim Johnson (D-S.D.), the banking panel’s chair, and Mike Crapo (Idaho), its ranking Republican member have asked federal credit union regulators to carefully consider any negative impact their risk-based capital proposal could have on credit unions’ agricultural lending and on their ability to raise and maintain certain capital levels.
The senators urged the NCUA to finalize rules that are “clear, well-calibrated, and work effectively with other prudential requirements to ensure that there are no unintended consequences.” Additionally, the legislators wrote, “The NCUA should also provide clear guidance on how credit unions should plan for supervision going forward and provide sufficient time for credit unions to adjust and comply with any new standards.”