Todd M. Harper is chairman of the National Credit Union Administration, chairman of the Federal Financial Institutions Examination Council and a voting member of the Financial Stability Oversight Council.
The National Credit Union Administration lacks the authority to regulate third-party vendors that supply vital services to the industry. This creates a major risk to credit union customers and the broader U.S. economy.
The National Credit Union Administration can no longer examine third-party vendors and service providers. That leaves the industry vulnerable to cybercriminals and other bad actors.
The Biden administration's Property Appraisal and Valuation Equity Task Force is working to eliminate race-based bias in the assessment of home values.
There will be lasting consequences for financial institutions that choose short-term protections for their bottom line over the economic security of the consumers they serve.
It's long past time for the National Credit Union Administration to implement a risk-based capital standard, and the recently approved delay could hurt more than it helps.
It's long past time for the National Credit Union Administration to implement a risk-based capital standard, and the recently approved delay could hurt more than it helps.