NCUA Chairman Todd Harper commented last week at the NCUA Board Meeting, that the board may soon consider a tailored, targeted and temporary rule (similar to last years rule) to provide some #PCA relief to some credit unions.
The Chairman specifically referenced:
Earnings retention requirements for Adequately Capitalized credit unions, and
a streamlined approach for submission of Net Worth Restoration Plans, for #creditunions who became undercapitalized PRIMARILY due to and increase in share deposits.
This is excellent news for some credit unions - consistent with my last post and blog which pointed out this relief had not yet been extended.
If you could use some assistance with NCUA on your PCA and Net Worth challenges, reach out at info@marktreichel,com