Newt Gingrich Calls RBC Proposal “Extraordinarily Troubling”

Former House Speaker Newt Gingrich, who worked on amending the Federal Credit Union Act in 1998 says Congress never intended for well-capitalized credit unions to be held to a higher risk-based capital ratio that adequately capitalized credit unions. Under the proposed rule, adequately capitalized credit unions would be required to maintain a minimum risk-based capital ratio of 8.0%, while well-capitalized credit unions would have to maintain a minimum risk-based capital ratio of 10.5. [5/27]