Links in “Proposals, Requests, & Comments”

A bill is being considered which would end Operation Choke Point. However, given the controversy this issue has received we can expect to see more debates in the near future. [7/21/14]

A bill has been introduced in the House that would exempt business loans to veterans from counting against a credit union's 12.25% of assets member business lending cap. [7/21/14]

In a letter to the House Financial Oversight Committee, NCUA Chair, Debbie Matz, claims that if the proposed risk-based capital rule had been in effect in 2007, it would have saved the NCUA Share Insurance Fund (NCUSIF) as much as $180 million. Matz added that the reason that some of the risk weightings are different in the proposed rule versus the FDIC rule is that the FDIC rule does not take into consideration concentration risk. [7/21/14]

This is what the credit union executives and trade association representatives thought who attended yesterday’s last Listening Session. Approximately 150 attendees at the Alexandria, VA, meeting continued to express concerns about the proposed risk based capital rule, but didn’t leave with any clear idea of the direction NCUA is planning to take. [7/18/14]

The Federal Reserve has approved a rule regarding information collection after the proposal did not receive any comments during the 60-day comment period. [7/18/14]

The CFPB has proposed to permit consumers who submit complaints to also submit a narrative to be included in the publicly available Consumer Complaint Database. Will the narratives provide more fodder for regulators to use when making "reputational risk" arguments? [7/17/14]

The FDIC proposed new changes that would affect the regulatory capital rules, capital ratios and ratio thresholds, the assessment base calculation for custodial banks, and more. [7/16/14]

Doug Fecher, CEO of Wright-Patt Credit Union, will testify for CUNA today before the House Financial Services Committee about the increasing cost of regulatory compliance and will cite the more than 108 new regulations that credit unions have been subjected to since 2008. The hearing will address a number of pending bills, including the American Savings Promotion Act, which would provide parity to financial institutions that want to offer raffle-related savings accounts, and the Regulation D Study Act, which would direct the government to conduct a study about the effectiveness of Regulation D. [7/15/14]

A bill introduced by House member Jeff Miller, Chairman of the House Veterans Affairs Committee, would exclude business loans to veterans from the statutory cap on member business loans. [7/11/14]

According to NCUA Chair Debbie Matz, speaking at yesterday’s listening session in Chicago, the agency will be extending the implementation period for the risk-based capital rule beyond the proposed 18-month time frame. Matz also called CUNA’s estimated $7 billion dollar cost of the rule to be a “myth.”  [7/11/14]