Removing Barriers Blog

Board Member Harper Requests Comment on Consumer Compliance Exams
Posted October 30, 2019 by CUNA Advocacy

NCUA Board Member Todd Harper has requested public comment on his proposal to create “a dedicated consumer compliance exam program for large, complex credit unions.” 

According to a release, the agency’s current compliance examinations covering consumer financial protection laws in credit unions with total assets of $10 billion or less differs from other financial institutions regulators. In response, Harper has proposed the NCUA “add three new full-time employees in the NCUA’s Office of Consumer Financial Protection in 2020, who would develop and later launch a dedicated consumer compliance examination program for large, complex credit unions.”

“As the largest credit unions continue to grow in size, the time has come for the NCUA to evolve its consumer compliance program,” Harper stated. “I invite all interested parties to comment on my proposal during the public deliberations over the NCUA’s proposed 2020–2021 budget.”

Information on how to comment on the NCUA’s Proposed Budget can be found here