ICBA Backs Consumer Protection Plan for Credit Unions

Dec 03, 2019

ICBA told the National Credit Union Administration that it supports NCUA board member Todd Harper's proposal to fund the creation of a dedicated consumer compliance exam program for large, complex credit unions.

In a comment letter to the agency, ICBA said Harper's proposal would help ensure that the NCUA's consumer protection efforts achieve parity with those of federal banking regulators.

ICBA noted that while the NCUA says it will use fair lending laws to protect against illegal discrimination as it relaxes field-of-membership and other regulations, the agency has conducted just 66 fair lending exams and supervisory contacts in 2018

Read ICBA Letter