ALEXANDRIA, Va. (April 8, 2019) – The Honorable Todd M. Harper took the oath of office today and joined the National Credit Union Administration as its 23rd Board member.
“My priorities will be to safeguard the safety and soundness of federally insured credit unions, preserve the integrity of the credit union industry in a continually evolving and increasingly complex marketplace, and protect taxpayers and credit union members from losses to the Share Insurance Fund,” Harper said immediately after getting sworn in.
NCUA Board Member J. Mark McWatters delivered the oath of office to Harper at the agency’s Alexandria, Virginia, central office.
During his tenure, Harper plans to focus on the issues of capital, liquidity, and cybersecurity. He will also prioritize the agency’s consumer protection duties and access to affordable credit for the unbanked and underserved.
“By law, the mission of the credit union system is to promote thrift and serve people of modest means. That’s why I am deeply committed to increasing access to financial services for all,” Harper said. “By providing access to affordable credit, as the Federal Credit Union Act requires, we can also expand our economy, create jobs, and protect American consumers from predatory lending practices. I will focus intently on these issues.”
After nearly a decade of economic growth, Harper also noted that NCUA must prepare for a changing financial environment.
“The recent inversion of the yield curve highlights the real need for the NCUA to prepare for the next recession,” Harper said. “Accordingly, we must ensure that federally insured credit unions and the Share Insurance Fund have the capital needed to withstand the next downturn.”
President Donald J. Trump nominated Harper for the NCUA Board on Feb. 6. The Senate Banking Committee held its confirmation hearing Feb. 14 and unanimously approved Harper’s nomination on Feb. 26. The Senate confirmed him on March 14.
Prior to his joining the NCUA Board, Harper served as director of the agency’s Office of Public and Congressional Affairs and chief policy advisor to Chairmen Debbie Matz and Rick Metsger. He also worked for the U.S. House of Representatives as staff director for the Subcommittee on Capital Markets, Insurance, and Government-Sponsored Enterprises and as senior policy advisor, legislative director, and senior legislative assistant to Rep. Paul E. Kanjorski (D-PA).
Harper holds an undergraduate degree in business analytics from Indiana University’s Kelley School of Business and a graduate in public policy from Harvard University’s Kennedy School of Government.