Removing Barriers Blog

Letter of Congratulations Sent to Chairman Hood
Posted May 20, 2019 by CUNA Advocacy

Last week, CUNA wrote to NCUA Chairman Hood congratulating him on his appointment as Chair of the National Credit Union Administration and to provide additional information not included in a March letter that was sent during the confirmation process.  CUNA and our members look forward to working with with the Chairman and are eager to stand as a resource.

"In the recent past, the credit union industry has focused its advocacy efforts on enhancements to the credit union charter. Therefore, we urge the agency to take steps toward this objective, which may include collaborating with parties outside NCUA.

Concern over cyber and data security is likely the single biggest issue currently facing most industries, including financial services. We appreciate NCUA’s recognition of the importance of this issue and its commitment to make it a focus area. We ask the agency to outline its short- and long-term strategy for ensuring credit unions and the agency are well positioned to avoid unauthorized loss of information through both cyber and general data breach threats."

The letter included a comprehensive overview of issues important to credit unions including:

  • Importance of the NCUA as an Independent Regulator and Insurer
  • Recent NCUA Actions that Have Been Positive for Credit Unions
  • Issues the NCUA Can Improve
  • Importance of NCUA Coordination with Other Regulators

CUNA  looks forward to working with the Chairman on many of these important issues.