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The Independent Community Bankers of America and the nation's community banks are calling on policymakers and the public to “Wake Up” to the risky practices, costly tax subsidies, and irresponsibly lax oversight of the nation’s credit unions.
Learn how the tax-exempt status of credit unions affects your state with our state-by-reports and gain key messaging guidance through the Wake Up Messaging Playbook.
March 26, 2021
ICBA called on the NCUA to create a minimum regulatory capital framework that is no less stringent than the Basel III regulatory capital framework in effect for community banks.
Background: The NCUA is proposing to raise the asset threshold for complex credit unions from $50 million to $500 million. NCUA is raising the threshold because a risk-based capital standard is set to take effect in 2022 for credit unions with assets over $500 million.
ICBA Position: In a comment letter, ICBA said the rule provides too small a capital cushion for complex credit unions, with the required credit union net worth ratio of 7 percent substantially lower than capital ratios required of community banks.
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Find out how community bankers can more effectively advocate for a level tax and regulatory playing field between tax-exempt credit unions and the community banking industry. Access your playbook today. You must be a member to access this content.
