The new Biden Administration means change at all Executive Branch agencies. In this edition of Capital Corner, I’ll take a look at the National Credit Union Administration, where Democrat Todd Harper was designated Chairman January 25. What will be the real impact of a Chairman Harper on the NCUA agenda and credit union operations in the coming year?
- Regulations are an obvious place to start. In general, it is probable that Democratic Chairman Harper will take an approach to regulations and oversight that is substantially different from that of his immediate Republican predecessors, Rodney Hood and J. Mark McWatters.
- “Harper is going to resemble Rick Metsger and Debbie Matz in terms of his philosophy and conduct. Less reg relief, more consumer protection and risk focus,” notes a former NCUA senior staffer. “Board Member Harper has made his views clear, and it should surprise no one when NCUA changes its stripes under Chairman Harper.”
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