ALEXANDRIA, Va. — NCUA issued a draft version of its
Among the priorities listed by the agency are to be a fair regulator with high safety and soundness standards; to serve as an advocate to protect members from predatory financial products; ensuring access for all eligible members; collaboration within the industry; and more.
"The credit union system and NCUA face a new financial services environment mindful of the lessons learned from the recent financial crisis," NCUA Board Chairman Debbie Matz said in a statement on Wednesday. While CUs continue to make gains in assets, lending and membership, the new plan reflects not only an awareness of the changes that have taken place in the financial services industry, but also the agency's "continued commitment to strong, effective and balanced regulation to protect the safety and soundness of credit unions without hampering growth and innovation," according to Matz.
The document also outlines several strategic goals within the organization — such as further developing a transparent and effective regulatory environment, and promoting consumer protection and financial literacy — along with detailing which offices within the agency are responsible for overseeing those goals, as well as environmental factors which may play a role.
NCUA is taking comment on the proposed strategic plan through Jan. 17.
