NAFCU's SVP of Government Affairs/General Counsel Carrie Hunt penned a couple of compelling Letters to the Editor that appeared in CU Journal ("Can You Hear Me Now? Why RBC Still Isn't Needed") and CU Times ("More Cost, Little Benefit") on the state of our industry's Risked Based Capital situation. In each piece, Carrie voiced her views on the latest proposal, commenting:
...credit unions didn't stumble during the economic crises solely because of capital, it was much more complex. Banks, which really took a hit, "were operating under a risk-based system similar to what NCUA had proposed."
She also talked about the two-tier system vs. the one-tier system debate, credit union growth and innovation being stifled, our industry needing a system that can account for both higher and lower risk, and having Congress engage at some point.
A very candid and insightful discussion on a touchy topic for our industry. Definitely a "don't miss" episode.
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Mike Lawson, Host
Married to a beautiful and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple.