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NCUA Chairman J. Mark McWatters, in a letter last week to Reps. Bill Posey, R-Fla., and Denny Heck, D-Wash., said the NCUA plans to consider a rule Thursday that would delay the agency's risk-based capital (RBC) rule by one year. NAFCU has actively lobbied NCUA and Congress in support of delaying the effective date due to the negative impact the rule could have on credit unions.

“The NCUA’s proposed delay and reconsideration is incredibly positive, and NAFCU looks forward to a right-sized rule for credit unions,” said NAFCU President and CEO Dan Berger.

In addition to a one-year delay, McWatters in his letter said that the proposal would raise the definition of a complex credit union from $100 million to $500 million. McWatters also indicated the proposal would be out for a 30-day comment period.

NAFCU has been engaged on Capitol Hill since Posey and Heck introduced the Common Sense Capital Relief Act (H.R. 5288) in March that would delay the RBC rule's effective date by two years. As a result of NAFCU's advocacy efforts, language from H.R. 5288 has been included in other bills and has passed the House three times.

The NCUA Board will discuss the proposed RBC rule during its meeting Thursday, slated to begin at 10 a.m. Eastern.