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Risk Based Capital delay moves forward

admin1 min readMay 23, 2018

Last week the LSCU Advocacy team provided an update on its efforts to include HR 5288, Rep. Bill Posey’s RBC Delay bill, into a defense bill that was to be marked yesterday in the House Financial Services Committee. Despite objections from the banking industry, the language did, in fact, get added to H.R. 5841, the Foreign […]

Last week the LSCU Advocacy team provided an update on its efforts to include HR 5288, Rep. Bill Posey’s RBC Delay bill, into a defense bill that was to be marked yesterday in the House Financial Services Committee. Despite objections from the banking industry, the language did, in fact, get added to H.R. 5841, the Foreign Investment Risk Review Modernization Act of 2018, and passed the committee unanimously.

The League worked with Rep. Posey’s office to fight back these objections and are now one step closer to seeing this common sense approach to regulatory relief become a reality. The LSCU thanks Rep. Posey for his continued support of credit unions and will continue to provide updates of further movement on this issue.

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The League of Southeastern Credit Unions & Affiliates represents 302 credit unions in Alabama, Florida and Georgia, with a combined total of $175 billion in assets and more than 11.6 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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