NCUA Chairman Harper Testifies Before the U.S. House Committee on Financial Services

ALEXANDRIA, Va. (Nov. 16, 2022) – National Credit Union Administration Chairman Todd M. Harper, along with other financial regulatory agency principals, testified today at a hearing before the U.S. House Committee on Financial Services.

Chairman Harper provided the Committee with a state of the credit union system and the factors that will affect its performance in 2023. He also discussed the status of the National Credit Union Share Insurance Fund and the Central Liquidity Facility (CLF), the need for the agency to have parity with other federal financial regulators in its ability to supervise third-party vendors, along with the NCUA’s efforts to preserve minority depository institutions and enhance the agency’s consumer financial protection program.

Chairman Harper also provided the Committee with an update on recent NCUA rulemakings that address the timely issues of member expulsion, subordinated debt, emergency capital investments, and cyber security notification, as well as NCUA guidance on the use of distributed ledger technologies.

The Chairman’s legislative requests included CLF permanency and the restoration of the NCUA’s third-party vendor authority.

• Chairman Todd M. Harper Oral Statement before the U.S. House Committee on Financial Services
• Chairman Todd M. Harper Written Testimony before the U.S. House Committee on Financial Services