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Supplemental Capital Bill Introduced in House

Credit unions could accept supplemental capital that wouldn’t be insured by the NCUSIF and would be subordinated to other claims, according to provisions of a bill introduced Thursday by Reps. Peter King (R-N.Y.) and Brad Sherman (D-Calif.).Under the measure, credit unions could accept non-share capital accounts and could use the money to cover operating losses in excess of its retained earnings. The accounts would be subject to maturity limits set by a credit union’s board. **** Read More; Supplemental Capital Bill Introduced in House

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