Credit union regulator to face confirmation hearing for reappointment

A hearing on the reappointment of the chairman of the board for the federal credit union regulator is set for Thursday, the Senate Banking Committee said Monday.

According to the committee’s website, the hearing for National Credit Union Administration (NCUA) Board Chairman Todd M. Harper’s reappointment as chairman of the agency’s board will get underway at 10 a.m.

Other nominations to be considered at the hearing include that for Judith DelZoppo Pryor to be first vice president of the Export-Import Bank of the United States; and Owen Edward Herrnstadt, to be a member of the board of directors of the Export-Import Bank of the United States.

Harper joined the board in 2019 to fill an unexpired term and was designated chairman this January by President Joe Biden (D), succeeding Rodney Hood (R). If confirmed as expected, Harper would have a board term that continues through April 10, 2027, outlasting that of Hood, which ends in August 2023; and that of Kyle Hauptman (currently vice chairman), which ends in August 2025.

The Federal Credit Union Act generally provides that NCUA Board members may not be appointed to succeed themselves. There are a couple exceptions, however, including that someone appointed to fill an unexpired term may be reappointed for a full six-year term.

As NCUA Board chairman, Harper also currently chairs the umbrella Federal Financial Institutions Examination Council (FFIEC), which prescribes standards for federal examinations of financial institutions by the NCUA, the Federal Reserve, the Federal Deposit Insurance Corp. (FDIC), the Office of the Comptroller of the Currency (OCC), and the Consumer Financial Protection Bureau (CFPB).

Senate Banking Committee nomination hearing: Todd M. Harper, NCUA Board Chairman