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NCUA: "Now hold on, let me explain
where we were heading with IMCR..." |
Think most credit union folks agree that the most disconcerting provision in NCUA's proposed RBC rule is the section - called individual minimum capital requirements (IMCR) - which gives NCUA staff the unfettered right to unilaterally impose whimsical, arbitrary capital standards on any and all credit unions. NCUA is backpedaling as hard as it can go to "explain away" the clear, unequivocal wording on IMCR in the published text.
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| Representative Patrick McHenry (R-NC) |
Hopefully Representative McHenry and the House Financial Services Committee will not buy the desperate, unartful spin now being churned out by the laundromatz over on Duke Street.
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Duke St. Laundromatz -
The Spin Cycle! |
But in case you needed more proof, the NCUA examiner staff have just been issued...
"The Official NCUA RBC SOUVENIR T-Shirt"...
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Unfortunately for 100 million
credit union members, we already knew that.
Your reputation precedes you.... |
1 comment:
Jim - It is probably too late but please pass this along to Debbie:The wise man, even when he holds his tongue, says more than the fool when he speaks.
Yiddish Proverb
Will she ever shut up? You can tell when she is lying...her lips move.
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