NCUA Chairman Harper Testifies Before the US House Committee on Financial Services

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 updated the Committee on the NCUA’s operations, programs, and initiatives. He discussed the performance of the National Credit Union Share Insurance Fund and the credit union system and the state of the Central Liquidity Facility (CLF). He also remarked on the NCUA’s efforts to strengthen the credit union system, which include enhancing cybersecurity, improving consumer financial protection, supporting under-resourced communities, and advancing diversity, equity, and inclusion.

Chairman Harper also provided the Committee with an update on recent NCUA rulemakings that address financial innovation and member expulsion.

The Chairman’s legislative requests included CLF reforms, the NCUA’s third-party vendor authority, and amendments to the Federal Credit Union act to better enable the NCUA Board to proactively manage the Share Insurance Fund.

• 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