NCUA Chairman Todd Harper said he looks forward to working with all stakeholders as NCUA responds to the economic fallout created by the pandemic, position for future challenges and strengthen its commitment to consumer financial protection. Harper hosted a webinar with NCUA leaders to share his priorities as chairman and the state of the credit union industry.
“I believe as an agency, the NCUA needs to be fair and forward-looking; innovative, inclusive, and independent; risk-focused and ready to act expeditiously when necessary for credit unions. And engaged appropriately with all stakeholders to develop effective and efficient regulation,” Harper said.
Myra Toeppe, director of NCUA’s Office of Examination and Insurance, said the agency’s supervisory priorities for 2021 are intended to address risks to the industry and the National Credit Union Share Insurance Fund, as well as reflect the economic conditions and policy changes stemming from the pandemic.
Supervisory priorities for 2021 maintain NCUA’s commitment to the extended examination cycle, and qualified credit unions will be scheduled accordingly in 2021, Toeppe added.
The webinar also featured a summary of the Consolidated Appropriations Act, and the Treasury’s $9 billion Emergency Capital Investment Program to assist low-income and underserved communities that may be disproportionately impacted by the pandemic.