WASHINGTON, DC (September 18, 2013) -- National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger issued the following statement on the National Credit Union Administration’s (NCUA) announcement today regarding the agency’s proposed rule on stress tests.
“We will be reviewing the NCUA's proposed rule on stress tests closely when it is issued to better assess the full impact on credit unions,” said Berger. However, at first glance, we have several concerns. The agency's proposed rule on stress tests seems to be an additional, unnecessary burden for credit unions. Moreover, we continue to object to any regulation without clear justification.”
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