National Credit Union Administration (NCUA) Vice Chair Kyle Hauptman made a scheduled appearance during the California and Nevada Credit Union Leagues’ programming at the 2024 Governmental Affairs Conference (GAC), connecting with credit union leaders on important regulatory topics.
Hosted by America’s Credit Unions (ACU) in Washington, D.C. this week, Hauptman’s visit gave attendees from California and Nevada a key opportunity to discuss important matters on the federal regulatory frontlines that NCUA is in charge of, including:
“We want to thank Vice Chair Hauptman for taking time out of his schedule to engage with credit union leaders and advocates from our two states,” said Lisa Quaranta, vice president of regulatory advocacy and compliance for the Leagues. “As the NCUA proceeds forward with Vice Chair Hauptman and his fellow board members’ leadership and guidance, we look forward to continuing to discuss challenges and opportunities that the agency, the Leagues, and our members can collaborate on given the different federal regulatory issues that credit unions are balancing.”
Hauptman thanked California and Nevada credit union leaders for their commitment and service to local members, as well as the entire industry as the financial services marketplace continues evolving. With emerging banking, asset, and monetary technologies and other initiatives on the horizon — as well as a continued focus on remaining relevant within the financial services marketplace — credit unions face hurdles amid an evolving web of federal and state rules and regulations.
Attendees encouraged Hauptman in their comments, asking for the NCUA to remember that regulators can prioritize collaboration on safety, soundness, and consumer protection, while also recognizing the need for flexibility to accommodate the unique operational dynamics of credit unions in each state. They asked NCUA to assess the impact of regulations on the credit union industry and consumers. Streamlining current regulations, eliminating outdated and inconsistent requirements, providing appropriate exemptions for credit unions, and restraining future regulatory demands were all topics of discussion for attendees.
Going forward, continuing topics with the NCUA, CFPB, and the Federal Reserve Board of Governors (FRB) include:
“We’d like to thank every one of our members for being involved on the regulatory front to voice their concerns with the NCUA here in Washington, D.C.,” Quaranta added. “With your voice here onsite at GAC, we provided clarity and hope to move the ball forward over the long term when it comes to advocating against regulatory burdens, providing a voice for your credit union’s members. We look forward to partnering with the NCUA and other federal regulatory agencies to continue helping you serve your members. Thank you!”
