Chairman Harper Outlines his Vision for the NCUA

Published by: Emily Leite

February 24, 2021 | Government Affairs

Credit unions have long had a robust and independent oversight agency that understands the unique needs and abilities of not-for-profit financial cooperatives. The League believes the National Credit Union Administration (NCUA) should continue this practice by empowering credit unions to meet member needs while maintaining safety and soundness measures. To that end, the League looks for any opportunity to better understand what NCUA’s regulatory priorities are, including paying attention to cues from NCUA leadership.

NCUA Chairman Todd Harper outlined his vision and priorities for the agency during its External Stakeholder Webinar on Feb.11, 2021. Chairman Harper stayed close to his famous F.I.R.E. philosophy. He stressed that NCUA would do a lot to address consumer protection and Diversity, Equity & Inclusion (DEI) under his leadership. His priorities can be summed up as follows:

Strengthen Commitment to Consumer Protection

  • Enhanced focus on consumer financial protection reviews.

Capital and Liquidity

  • Helping credit unions that are experiencing significant financial or operational problems due to COVID-19 and other causes.

DEI

  • Ensuring compliance with fair lending laws and supporting minority depository institutions and community development financial institutions.

Technological Innovation and Cybersecurity

  • Promoting technological innovation in the financial industry to serve credit union members while increasing vigilance against cyberattacks and fraud.

The NCUA also addressed its Supervisory Priorities for 2021, stressing the importance of compliance with consumer protection laws and CARES Act regulations, among other items. Overall, it seems Chairman Harper seeks to maintain the safety and soundness of the credit union system while ensuring the credit unions remain champions of consumer protection DEI. If you have any questions about Chairman Harper’s priorities and vision for NCUA, please contact League Regulatory Counsel Chris Noble, Esq..

CONTACT US

E: cnoble@ohiocul.org
T: (614) 923-9762
C: (614) 448-6237

Other Movement News

Government Affairs

Election night success for credit unions; see how the midterms impact your credit union

Thanks to your generous support throughout the 2021-2022 elections, the Ohio Movement engaged with 122 decision-makers and invested more than $570,000 in state and federal legislative champions. Your partnership led […]
Regulatory

League supports closing bank charter loopholes

Ensuring a level playing field for all financial service providers is crucial to protecting your credit union’s ability to serve its members. That’s why the League supports U.S. Senator Sherrod […]
Member Benefits

Help your members prepare for the holidays

Planning for this holiday season’s shopping expenses might leave your members’ budget in a tangle. Gift your members a smarter financial future with November’s Monthly Marketing Toolkit, a complimentary resource as […]