admin Credit unions received a victory this week when the U.S. House passed, on a voice vote, H.R. 1408
, a bill that requires the NCUA, along with its counterparts, to jointly study the appropriate capital requirements for mortgage servicing assets for financial institutions. The measure passed on a voice vote.
Specifically for credit unions, H.R. 1408 will not allow for regulations to implement the proposed rule of the NCUA for risk-based capital with respect to mortgage servicing assets for nonsystemic banking institutions from taking effect until three months after the report on the study is issued to Congress.
