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Friday, February 10, 2012
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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