Chairman Todd Harper: We've Only Just Begun
Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC · Credit Union Exam Solutions Inc.
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Show Notes
www.marktreichel.com
https://www.linkedin.com/in/mark-treichel/
- Topic: NCUA Chairman Todd Harper's vision for the future of credit unions
- Occasion: 90th anniversary of the Federal Credit Union Act
- Key principles for credit union success over next 90 years:
1. Transparency
- Public disclosure of executive compensation (proposed rule)
- Reporting of overdraft/NSF fees for large credit unions
- Advocating for third-party vendor authority
2. Fairness
- Focus on serving underserved populations
- Advancing diversity, equity, inclusion, and accessibility
- New rule on quality control for automated valuation models
3. Vigilance
- Active management of risks, especially cybersecurity
- Proposed rule on incentive-based compensation for large credit unions
4. Foresight
- Addressing credit union consolidation trend
- Proposed rule requiring succession planning
- Emphasis on long-term stewardship and positive impact
- Call for continued innovation and focus on member needs
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