Harper: Exams Demonstrate Need for Consumer Protection Focus

Citing deficiencies that National Credit Union Administration examiners found during the past year, board Chairman Todd Harper renewed his call Thursday for the agency to develop a separate consumer protection examination.

“We should be going in and looking at [credit union] consumer protection compliance systems,” Harper said, during his confirmation hearing before the Senate Banking Committee.

Banker–But No CU Official–to Testify at House Competition Hearing

A hearing on consolidation in the financial services industry will feature the perspective of the American Bankers Association, which has warned about the impact of credit unions purchasing banks.

The Sept. 29 hearing of the House Financial Services Committee’s Consumer Protection and Financial Institutions Subcommittee, will not feature a representative of the credit union industry.

NCUA Board Republicans Force Votes on Contentious Rules

The partisan divisions on the National Credit Union Administration board came to the forefront Thursday, as Republican members of the board voted to bring three contentious final rules to the board over the objection of Democratic board Chairman Todd Harper.

GOP board members Rodney Hood and Kyle Hauptman voted to force a rule governing the activities of Credit Union Service Organizations onto the October agenda. They voted to force a rule governing service facilities onto the November agenda and they voted to force a rule governing the purchase of mortgage servicing rights by credit unions onto the December agenda.