CUNA CEO: Secondary Capital To Be Top Priority…

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SAN ANTONIO – CUNA President Bill Cheney said the trade group will make a priority out of secondary capital in 2011.

Cheney offered that preview before NASCUS’ annual meeting; secondary capital long has been an objective of the trade group representing state regulators.

In the short term, said Cheney, CUNA will continue to push hard in Congress for an increase in the Member Business Lending cap, including in the upcoming lame duck Congress, but its efforts will be “under the radar.”

“Everyone understands the need to have strong capital in the system for just these kinds of situations,” said Cheney. “Even NCUA has now acknowledged that they see alternative capital, or supplemental capital, as a safety and soundness issue.”

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