President Trump on Friday nominated Todd Harper to the final open seat on the National Credit Union Administration’s board.
Harper previously served as the agency’s director of public and congressional affairs and chief policy officer to the chairman. He also spent 14 years as a senior aide to U.S. Rep. Paul Kanjorski, who was instrumental in the 1998 passage of the Credit Union Membership Access Act.
If confirmed, Harper would fill the seat vacated by Debbie Matz in April 2016. That seat is scheduled to expire in April 2021.
Harper’s nomination was positively received by industry trade groups.
“The CUNA/league system heartily congratulates Todd Harper on his nomination to the NCUA board, and credit unions look forward to working with a full, three-person NCUA board should this nomination go through,” said Jim Nussle, president and CEO of the Credit Union National Association. “He is a familiar face to not-for-profit financial cooperatives, which is a very positive development. CUNA looks forward to engaging further when possible to help NCUA continue its work providing examination and other regulatory relief to credit unions.”
The National Association of Federally-Insured Credit Unions also praised the news.
"NAFCU is consistently engaged with the NCUA Board, and we look forward to working with Todd Harper should he be confirmed to ensure a positive regulatory environment for credit unions,” NAFCU President and CEO Dan Berger said in a statement. “As a former policy advisor at the NCUA, Mr. Harper possesses a strong understanding of the credit union industry and its unique mission that puts people over profit. NAFCU is committed to ensuring the NCUA remains a strong, independent regulator for credit unions, and we will continue to advocate for the agency to be the primary regulator of credit unions.”
Michael Fryzel, a former board member himself, said Harper’s experience working both within the agency and with Kanjorksi “provides him with an added insight into the operations of the industry.”
Rick Metsger, the board member and former chairman whose seat Harper would fill, said in an email the nominee "combines an in-depth knowledge of credit union issues with a long track record on both Capitol Hill and at the NCUA of working across the aisle to protect the safety and soundness of the credit union system. His leadership in the Congress and at the agency on legislation like the Credit Union Modernization Act has, and will continue to, benefit credit union members across the nation.”
And NCUA Chairman Mark McWatters said in a statement that Harper "brings a wealth of experience and knowledge that will serve him well as a member of the NCUA board and as a regulator."
President Trump has already nominated former board member Rodney Hood to fill the seat of outgoing board member Rick Metsger. The board is required by law to be bipartisan, and Harper fills the Democratic requirement. Hood and McWatters are both Republicans.
Should Harper be confirmed, it would bring the NCUA board to full capacity for the first time since Matz’s departure. Some in the industry, including the National Association of State Credit Union Supervisors, have advocated expanding the board from three to five seats, including requiring that at least one member have experience regulating state-chartered credit unions.
The topic of changes to the board came up recently following a high-profile news story regarding
This story was updated at 1:41 P.M. on Feb. 3, 2019.
