Newsroom
Harper, Hood highlight latest data, industry strength at Congressional Caucus
NCUA Chairman Todd Harper and Board Member Rodney Hood addressed credit unions on the second day of NAFCU’s Congressional Caucus to share details on the NCUA’s efforts to bolster financial inclusion and innovation, interest rate and liquidity risks, and more.
In his opening remarks, Harper discussed the NCUA’s call report data from the second quarter. He noted that data gave him “cautious optimism” as the increase in lending and assets show the strength of the industry. However, he added that there has been an increase in credit risk, liquidity risk, and economic stressors.
Additionally, Harper sat down for a fireside chat with NAFCU Senior Vice President of Government Affairs Greg Mesack. During the discussion, Harper reiterated that 91 percent of deposits are insured at federally insured credit unions. He also said the NCUA is aiming to do more with field of membership reform, but it must be within the “four corners of the law.” Harper added that the agency is considering more ways to handle increasing liquidity risk after the March bank failures.
NCUA Board Member Rodney Hood also highlighted the call report data, including the 1.57 trillion in outstanding loans. Hood remarked that he was “proud” of the number because it shows that credit unions continue to give capital to members. He stressed that credit unions need to focus on cybersecurity, fraud prevention, and liquidity risk – including making use of the Central Liquidity Facility.
Hood also discussed his priorities for the rest of the year. He expressed his belief that “financial inclusion is the civil rights issue of our generation,” and praised progress the industry has made in increasing financial access of underserved communities.
Stay tuned to NAFCU Today for more coverage of NAFCU’s Congressional Caucus and follow along on social media at #NAFCUCaucus.
Share This
Related Resources
The Looming Government Shutdown
Operations
Blog Post
Add to Calendar 2023-09-22 14:00:00 2023-09-22 14:00:00 Understanding Credit Card Portfolio Sales & Agent Programs Both credit union and bank credit card issuers are under intense pressure from various sources, including competitor innovation, significant internal resource commitments, increasing operating expenses, uncertain regulatory and economic environments and a variety of capital and liquidity constraints. This has led to about 80% of all banks offering credit cards under an ‘agent issuing’ model, where a third-party issues credit cards under the financial institution’s name. While hundreds of credit unions do the same, and interest in this option has increased in the last two years, the majority of credit unions still own and manage this product themselves. Deciding whether this option can meet strategic, financial and member needs can be difficult to untangle. In this webinar, Understanding Credit Card Portfolio Sales & Agent Programs, you’ll delve into the structure of such programs, the financial and risk-profile impacts of such a decision, the contractual commitments required of both parties and discover evaluation tips and processes for any credit union that would like to evaluate this path. Key Takeaways Discover the structure of the agent issuing concept and obligations of both parties Understand the financial impact of entering such a program to the balance sheet, income statement, and critical performance ratios Ascertain the impacts to members, including both positive and negative possibilities Review the accompanying contractual structures and key considerations Develop an evaluation process that best protects the credit union’s financial and other outcomes Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until September 22, 2024.Go to the Online Training Center to access the webinar after purchase » Who Should Attend COOs CFOs NCCOs and compliance titles NCRMs and risk titles General counsel staff Education Credits NCCOs will receive 1.0 CEUs for participating in this webinar NCRMs will recieve 1.0 CEUs for participating in this webinar CPA credit information is below; recommended 1.0 CPE credits. CPA Certification Credit Information Reviewer: Josie Collins, Senior Associate Director of Education, NAFCU Learning Objectives: See key takeaways Program Level: Basic Prerequisites Needed: None Advance Preparation Needed: None Delivery Method: Group Internet-Based Recommended CPE Credits: 1.0 credits Recommended Field of Study: Regulatory Ethics – Technical About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, DC. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer. Web NAFCU digital@nafcu.org America/New_York public
Understanding Credit Card Portfolio Sales & Agent Programs
Credits: NCCO, NCRM, CPE
Webinar
Building a brighter financial future with consumer trust
Strategy
preferred partner
TruStage
Blog Post
Get daily updates.
Subscribe to NAFCU today.