ALEXANDRIA, Va.–A former NCUA chairman is suggesting the current NCUA chairman needs to put more serious issues on the board meeting agenda.
During remarks offered during the April board meeting, at which the board was provided updates and at which no votes took place, NCUA board member Rodney Hood, who was replaced as chairman by the Biden Administration by Todd Harper, closed his comments relative to the NCUSIF by saying there are meatier matters to be dealt with.
“In closing, if I may Mr. Chairman, today’s agenda is extremely light,” said Hood. “I hope we can work together in a bipartisan fashion in the months ahead to have board agendas that are much more robust. The credit union community and this board deserve it.”
At issue are a number of proposals on which Harper cast a dissenting vote while he was a board member prior to being elevated to chair. As the lone Democrat, Harper is in the minority with fellow board members Rodney Hood and Kyle Hauptman being Republican appointees. That has led to a number of 2-1 votes.
In December 2020, for instance. Harper voted against a proposal on mortgage servicing rights, which he called “half baked.” In February, Harper voted against NCUA’s “Services Facilities” proposal, saying the proposal “could render the Federal Credit Union Act requirement a near nullity.”
While he is in the minority, as chairman Harper does control the board agenda.
In response to Hood’s comment, Harper said agency staff are working through a number of complex issues, including proposals related to capitalization of interest and derivatives powers on which he said, “I’m hopeful we can see action in the near future.”
During remarks offered during the April board meeting, at which the board was provided updates and at which no votes took place, NCUA board member Rodney Hood, who was replaced as chairman by the Biden Administration by Todd Harper, closed his comments relative to the NCUSIF by saying there are meatier matters to be dealt with.
“In closing, if I may Mr. Chairman, today’s agenda is extremely light,” said Hood. “I hope we can work together in a bipartisan fashion in the months ahead to have board agendas that are much more robust. The credit union community and this board deserve it.”
At issue are a number of proposals on which Harper cast a dissenting vote while he was a board member prior to being elevated to chair. As the lone Democrat, Harper is in the minority with fellow board members Rodney Hood and Kyle Hauptman being Republican appointees. That has led to a number of 2-1 votes.
In December 2020, for instance. Harper voted against a proposal on mortgage servicing rights, which he called “half baked.” In February, Harper voted against NCUA’s “Services Facilities” proposal, saying the proposal “could render the Federal Credit Union Act requirement a near nullity.”
While he is in the minority, as chairman Harper does control the board agenda.
In response to Hood’s comment, Harper said agency staff are working through a number of complex issues, including proposals related to capitalization of interest and derivatives powers on which he said, “I’m hopeful we can see action in the near future.”
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