NCUA Board Facing Potentially Contentious Issues

The agenda for the January board meeting of the National Credit Union Administration has been released. On the agenda is a rule on Risk-Based Net Worth, an Advance Notice of Proposed Rulemaking on the simplification of Risk-Based Capital Requirements, a proposed rule on CUSOs, a notice of proposed rulemaking on the CAMELS rating system and the agency’s annual performance plan.

Rep. Ben McAdams (D-Utah) Defeated in Reelection Bid; Was Supported by Credit Union Trade Groups

Rep. Ben McAdams (D-Utah), a freshman member of the House Financial Services Committee, on Monday conceded defeat to former National Football League player, Republican Burgess Owens, in their tight race for Congress. Owens received 47.5% of the vote, according to election results tabulated by state officials, while McAdams received 46.93% of the vote. The two national credit union trade groups had supported McAdams, with CUNA’s political action committee donating $10,000 to his campaign and NAFCU contributing $1,000. The race garnered national attention since Owens was an outspoken supporter of President Trump’s reelection effort. Last month, McAdams opposed the latest version