The Great Pyramids of Egypt were built in less time than it has taken for the NCUA to recognize that they are not only beating a dead horse when it comes Risk Based Capital, they continue to waste credit union capital on studies of a bank-tested tactic that has the same smell of the aforementioned expired equine.
If you haven’t yet, check out Chip Filson’s blog on the matter: NCUA Board has a Unique Opportunity to Eliminate the Flawed Risk Based Capital Proposal. In it Chip details the proposal’s flawed foundation and the NCUA Board’s can kicking approach to it.
The NCUA persists in pursuing a disowned strategy that is now as outdated as the Sony Walkman while failing to take the time and make the effort to understand the fundamental differences between the cooperative institutions they are responsible for and the rest of the financial institutions marketplace. Can we ever hope to get them to recognize that CREDIT UNION is not spelled the same as BANK?