Congress Grills NCUA About RBC
It turned out to be a long day for NCUA General Counsel, Mike McKenna, who was grilled by the members of the House Financial Services Committee over why the agency’s proposed risk-based capital rule’s risk weights are higher than those set by the FDIC when credit unions have lower delinquency rates than banks. McKenna responded that NCUA believes their proposed risk weightings are equivalent to those used by the FDIC given the unique nature of credit unions and other factors. [4/9]
