NCUA Chairman Harper Testifies Before the U.S. House Committee on Financial Services
ALEXANDRIA, VA (May 16, 2023) — National Credit Union Administration Chairman Todd M. Harper, along with other financial regulatory agency principals, testified today at a hearing before the U.S. House Committee on Financial Services.
Chairman Harper provided the Committee with a state of the credit union system and updated the Committee on the NCUA’s operations, programs, and initiatives. He discussed the performance of the National Credit Union Share Insurance Fund and the credit union system and the state of the Central Liquidity Facility (CLF). He also remarked on the NCUA’s efforts to strengthen the credit union system, which include enhancing cybersecurity, improving consumer financial protection, supporting under-resourced communities, and advancing diversity, equity, and inclusion.
Chairman Harper also provided the Committee with an update on recent NCUA rulemakings that address financial innovation and member expulsion.
The Chairman’s legislative requests included CLF reforms, the NCUA’s third-party vendor authority, and amendments to the Federal Credit Union act to better enable the NCUA Board to proactively manage the Share Insurance Fund.
Chairman Todd M. Harper Oral Statement before the U.S. House Committee on Financial Services
Chairman Todd M. Harper Written Testimony before the U.S. House Committee on Financial Services
About National Credit Union Administration (NCUA)
The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 135 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.
