The two agencies have delayed the deadline for the public to respond to a request for information on the rating system used to score banks' overall health.
It's long past time for the National Credit Union Administration to implement a risk-based capital standard, and the recently approved delay could hurt more than it helps.
The National Credit Union Administration board signed off on a controversial budget, and it delayed its risk-based capital rule to buy itself time amid complaints by bankers.
The supervisory letter had required the company to get Fed approval before issuing debt, paying dividends or making quarterly payments on its trust-preferred securities.
Raging Capital Management also urged the company's board to repurchase stock and think about selling a minority stake in the payments processor Evertec.
