NCUA Rejects Stronger Consumer Protections

Dec 13, 2019

The National Credit Union Administration voted down a proposal from NCUA board member Todd Harper to create a dedicated consumer compliance exam program for large credit unions. ICBA said in a comment letter that the proposal would help ensure 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