Chairman Todd Harper: We've Only Just Begun

Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC

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- 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

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