National Credit Union Administration (NCUA) Board Member Tanya Otsuka, the California and Nevada Credit Union Leagues, and credit union leaders met virtually this week to discuss important regulatory issues.
League leaders and attendees took the opportunity to engage with Otsuka to learn more about her regulatory philosophy and priorities. Otsuka is focused on two priorities: safety and soundness and consumer protection. She is also very passionate about helping small credit unions and minority depository institutions succeed.
Credit union leaders were able to discuss additional key topics, including:
Attendees encouraged Otsuka, 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 also 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 Streamlining current regulations, eliminating outdated and inconsistent requirements, providing appropriate exemptions for credit unions, and restraining future regulatory demands were all priority topics.
This week’s meeting was her first meeting with California and Nevada credit unions since her current appointment.
Otsuka took office in January 2024. She previously served as senior counsel for the majority staff of the U.S. Senate Banking, Housing, and Urban Affairs Committee under Chairman Sherrod Brown (D-OH), where she handled the committee’s work on banking and credit union issues. Prior to her time serving the committee, Board Member Otsuka was a staff attorney and counsel at the Federal Deposit Insurance Corporation (FDIC) where she worked on a broad range of banking issues.
“This meeting was a chance to share credit union stories, illustrate how certain rules are burdensome for members, and make recommendations on how they can be fixed,” said Lisa Quaranta, vice president of regulatory advocacy and compliance. “The Leagues are thankful credit union leaders took this opportunity to welcome Board Member Otsuka to the NCUA and foster a good working relationship with her.”
2855 East Guasti Rd., Suite 202
Ontario, CA 91761
909.212.6000
1201 K. St., Suite 1050
Sacramento, CA 95814-3992
916.325.1360
c/o Great Basin FCU
9770 South Virginia Street
Reno, NV 89511-5941
202.638.5777 www.cuna.org
www.dfpi.ca.gov
Clothilde “Cloey” V. Hewlett — 415.263.8500
fid.state.nv.us
702.486.4120 (Las Vegas)
775.684.2970 (Carson City)