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|Team Mitchell left to right: Myriam Valdez, Legislative Aide, Senator Holly Mitchell (D-Los Angeles), Tim Shelley, Rules Committee Consultant, John Skoglund, Legislative Aide, and Rodney Wilson, Senior Legislative Advocate, California and Nevada Credit Union Leagues.|
|Sen. Dean Heller, R-NV|
Heller is the most recent to raise concerns from the Senate Banking Committee.
“I am concerned the proposed rule would establish a new risk-based requirement for a credit union to be considered well-capitalized,” Heller states. “The risk weights in the proposed rule may be unduly burdensome on credit unions and reduce the availability or affordability of loan products, and restrict credit to citizens in Nevada.”
Heller also stated his concern that the NCUA hasn’t “adequately explained” the need for the risk-based capital proposal, adding that he would like the agency to “provide clear guidance on how credit unions should plan for supervision in the future,” with plenty of time to adjust and comply with any new rules.