National Credit Union Administration, December 12, 2019: NCUA Board Member Todd M. Harper Statement on the 2020-2021 Budget
From my perspective, there are a number of good things in the NCUA 2020–2021 Budget. But I also have concerns about this budget and today’s meeting.
As the National Community Reinvestment Coalition noted in its comment letter, “[t]he lack of change implies that the NCUA is not keeping pace with the growing number of large credit unions and the changing dynamic of the industry that it regulates.” Once again, I couldn’t agree more.
With respect to large, complex credit unions, the time has come for us to put continuous improvement into practice. As the largest credit unions continue to grow in size, the time has come for the NCUA to evolve its consumer compliance program.
