• Chairman Todd Harper: We've Only Just Begun

  • Sep 17 2024
  • Length: 8 mins
  • Podcast

Chairman Todd Harper: We've Only Just Begun

  • Summary

  • - Topic: NCUA Chairman Todd Harper's vision for the future of credit unions
    - Occasion: 90th anniversary of the Federal Credit Union Act
    - Key principles for credit union success over next 90 years:

    1. Transparency
    - Public disclosure of executive compensation (proposed rule)
    - Reporting of overdraft/NSF fees for large credit unions
    - Advocating for third-party vendor authority

    2. Fairness
    - Focus on serving underserved populations
    - Advancing diversity, equity, inclusion, and accessibility
    - New rule on quality control for automated valuation models

    3. Vigilance
    - Active management of risks, especially cybersecurity
    - Proposed rule on incentive-based compensation for large credit unions

    4. Foresight
    - Addressing credit union consolidation trend
    - Proposed rule requiring succession planning

    - Emphasis on long-term stewardship and positive impact
    - Call for continued innovation and focus on member needs

    The podcast notes avoid reproducing any copyrighted song lyrics or extensive quotes from the article.

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