Fryzel assures RBC plan will see changes

first_imgNational Credit Union Administration board member Michael Fryzel, responding to a letter from the Credit Union National Association, said that he is confident that significant changes will be made to the agency’s current risk-based capital proposal for credit unions before it is finalized, reflecting a message that the agency chair and other board member have also stated.However, Fryzel parted ways with his fellow regulators in his letter to CUNA when he said that if the question of extending the comment deadline on the proposal–as CUNA has recommended–came before the board for a vote, he would vote for an extension.  That opinion, however, puts him in a two-to-one minority as the others on the three-person board have told CUNA that they believe the current May 28 deadline is sufficient for comment gathering.Fryzel was responding to a joint request by CUNA and the National Association of Federal Credit Unions for the comment extensions.He wrote, “I am confident that, when the NCUA finalizes the risk-based capital rule, it will include significant changes from what has been proposed, and will incorporate the suggestions of your trade associations and credit unions across the country. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img


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