NCUA Chairman Todd Harper testified before the Senate Banking, Housing, and Urban Affairs Committee Thursday. Harper—who joined the board in 2019 and was named chairman in January—has been re-nominated by President Joe Biden for an additional term.
“There are several pertinent issues that we bring to the attention of the Committee in the context of Chairman Harper’s renomination,” CUNA wrote in a letter for the record of the nomination hearing. “NCUA’s continued work on COVID-19 related policy accommodations, the need for NCUA to have flexibility with respect to prompt corrective action (PCA) requirements, our concern with proposals to adjust the National Credit Union Share Insurance Fund (NCUSIF), our support for additional charter enhancement legislation that will further enable credit unions to focus on their members’ financial well-being, and concerns raised by banking trade associations regarding the small number of bank sales to credit unions.”
Highlights of the letter include: