John Sarbanes: “So, the question arises: How may the NCUA deal with this issue while implementing the bill's safety and soundness…”

“So, the question arises: How may the NCUA deal with this issue while implementing the bill's safety and soundness provisions? In my view, the NCUA should be mindful of community development credit unions' unique circumstances in applying the bill's prompt corrective action provisions. In addition, community development credit unions that demonstrate that they can build their capital over time to the required levels--as evidenced by an acceptable net worth restoration plan--should be given the full opportunity to do so.”