NCUA Chair Harper Speaks at Advocacy Luncheon Hosted by Association & DC Chapter

Chairman Harper discussed the agency's key priorities and its continued response to the pandemic.

Unknown(L to R) MD|DC CUA VP of Advocacy Rory Murray, MD|DC CUA Board Chair and NIHFCU CEO Rick Wieczorek, NCUA Chair Todd Harper, MD|DC CUA CEO John Bratsakis and PSCU Membership Development Executive Ken Hufnagel 

More than 40 credit union professionals attended the luncheon. Chairman Harper outlined topics and issues the NCUA is addressing, including:

• Cybersecurity is a leading issue. The threats will continue to increase and credit unions need to be on alert.
• Fair lending issues will be more prominent in exams. There will be a special focus on policies related to older members and military lending act compliance.
• The rationale behind the recent succession planning rule proposal. Mostly, smaller credit unions need to have formal plans to ensure smooth transitions of leaders. Failure to plan often leads to mergers and consolidations which is not always the best outcome.
• Overdraft programs should be reviewed. Many credit unions are finding new ways to create income streams from places other than overdraft.

Following Harper's remarks, credit unions asked questions and discussed the key challenges their credit unions are facing.

After lunch, the DC Chapter hosted its annual business meeting.