Harper touches on overdraft in prepared remarks at REACH

As NCUA Board Chair Todd Harper touched on overdraft and non-sufficient funds (NSF) products during his speech at the California and Nevada Credit Union Leagues’ REACH 2023 conference, the Leagues are reminding credit union leaders that his remarks were prepared beforehand — which is not unusual for the chairman’s public appearances.

It’s important to note that Harper’s opinions and comments during his speech are entirely his own and do not necessarily reflect the official position of the Leagues.

A large focus of his prepared remarks centered on overdraft and NSF fees. He referenced credit unions’ mission to help member-household finances, overdraft/NSF fees falling disproportionately on underserved communities, some credit unions’ “overreliance” on overdraft/NSF fees, concentration and risk issues, banks’ restructuring of overdraft/NSF fee products, and large credit unions’ activity in this space compared to banks.

To that end, he asked credit unions to “meet the challenge of… rethinking overdraft and NSF fee programs,” and to “apply creativity and ingenuity when shaping the prospects of your institution and members.” He encouraged credit unions to envision rebuilding their overdraft/NSF programs.


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