NCUA’s Harper Calls for Increased Oversight of Large CUs; Agency Hosts Webinar on Consumer Financial Protection

National Credit Union Administration Board Member Todd M. Harper is requesting public comment on his proposal to create a dedicated consumer compliance exam program for large, complex credit unions.

todd harper 280 220Harper said the NCUA’s examination program has focused primarily on safety and soundness reviews, but it’s time for a change. “This policy worked well when the NCUA oversaw a large number of small credit unions serving a limited field of membership with only a few basic financial products, but today’s credit unions are larger and more complex, with 317 credit unions exceeding $1 billion in assets having 71.7 million members.”

Harper would like to add three new full-time employees in the NCUA’s Office of Consumer Financial Protection in 2020, who would develop and later launch a dedicated consumer compliance examination program for large, complex credit unions.

To comment on the proposal for a dedicated consumer compliance program, email by Dec. 2.

Webinar: Consumer Financial Protection 
Meantime, the NCUA is hosting a webinar on November 19 at 2 pm on consumer financial protection. Registration is open for “Fair Lending and Consumer Compliance Regulatory Update”

Staff from the NCUA’s Office of Consumer Financial Protection will cover several subjects, including:

• The agency’s new payday alternative loan, or PALs II, rule
• Findings from reviews of Home Mortgage Disclosure Act loan and application registers;
• Regulation B adverse action notices; and
• Elder financial abuse.

Participants can submit questions over Twitter anytime during the presentation and in advance by emailing The email’s subject line should read, “Fair Lending and Consumer Compliance Regulator Update."