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Berger, Harper meet on priorities
NAFCU President and CEO Dan Berger met yesterday with new NCUA Board member Todd Harper to discuss issues the association would like the agency to address.
Berger was joined by NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt and Director of Regulatory Affairs Ann Kossachev.
At last week's NCUA Board meeting, Harper stressed that the agency needs to be "innovative, inclusive and independent" and also indicated he will work to find bipartisan solutions. In a release after his swearing in, Harper said he plans to focus on capital, liquidity and cybersecurity, as well as consumer protection duties and access to affordable credit for unbanked and underserved consumers.
Berger has previously outlined several regulatory priorities for Harper and new NCUA Board Chair Rodney Hood, including field of membership reforms, the current expected credit loss (CECL) standard, federal credit union bylaws, risk-based capital (RBC), payday alternative loans and more.
The association has also encouraged the agency to expand eligibility for an extended 18-month exam cycle, increase budget efficiency and transparency, and return the National Credit Union Share Insurance Fund's (NCUSIF) normal operating level (NOL) to 1.3 percent as soon as possible.
Harper previously served as the director of public and congressional affairs and chief policy advisor to the chairman at the NCUA; he is the first NCUA staff member to become a board member. He fills a six-year term that expires in 2021.