
SECU May Consider Bank Conversion over RBC Rule
Jim Blaine, outspoken CEO of State Employees’ Credit Union in Raleigh, NC, says that he may recommend that his board consider converting to a bank if certain aspects of the proposed risk-based capital rule are not changed. Blaine states that the proposed rule gives an unfair advantage to banks and the result could be that the credit union might be able to better serve its members through a bank charter. [5/12]