Harper doubles down on consumer protection

National Credit Union Administration Chairman Todd Harper on Monday doubled down on his assertion that the agency’s consumer protection compliance reviews are inadequate.

“Given the consumer compliance examination program for comparably sized community banks, our program’s scope is insufficient, especially for those credit unions between $1 billion and $10 billion in assets,” Harper told those gathered in Washington, D.C. for the Credit Union National Association’s Governmental Affairs Conference. “We should be doing more, and we can do more.”

Harper said he understood that his position may not be popular among conference attendees, adding that many people believe the agency should concentrate on safety and soundness issues or argue that the agency has not presented a significant rationale for an increased focus on consumer law compliance.

He said, however, that some credit unions have engaged in discriminatory practices or violated consumer protection laws.


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