Now streaming: Latest CUPP episode explores fintech with NCUA’s Hood
On the latest episode of NAFCU’s Credit Union Policy Podcast (CUPP), CUPP host and NAFCU Vice President of Regulatory Affairs Ann Petros talks with NCUA Board Member Rodney Hood about credit unions’ strategic partnerships with fintech.
Hood shares his perspective for regulation as it relates to fintech, noting the importance of providing credit unions with clarity and the proper framework to be able to partner with fintechs and pursue innovation and experimentation.
“I’ve long believed that financial technology has the ability to equip credit unions with all the resources and tools they need to serve their members in today’s dynamic marketplace,” Hood says, adding that he tries to consider what will be needed for the industry to thrive well into the future.
Hood also highlights that credit unions welcomed 5 million new members amid the pandemic, which wouldn’t have been possible if the industry didn’t have the technology capabilities to meet their needs.
In addition, Hood discusses efforts of the NCUA’s Office of Innovation and Access, including the possibility for regulatory sandboxes and tech sprints, rulemaking, modernizing the NCUA’s supervisory tools, and more.
The CUPP takes listeners into the heart of Washington, D.C., to highlight where lawmakers and regulators stand on key credit union issues. Previous episodes have covered topics such as the CFPB’s funding issue, Buy Now, Pay Later programs, marijuana banking, and housing issues.
Learn more and stream the latest episodes here.
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