Todd Harper Named FFIEC Chair; CUSO Comments; Use of A.I.

Todd Harper

National Credit Union Administration (NCUA) Board Chairman Todd M. Harper has been named chairman of the Federal Financial Institutions Examination Council (FFIEC). His two-year term runs from April 1, 2021, through March 31, 2023.

“I am honored to serve as the next chairman of the FFIEC and will work to foster communication, cooperation, and coordination within the Council to advance greater uniformity and best practices in supervision,” Harper said. “I want to thank past Chairmen Kathleen Kraninger and David Uejio for their service to the FFIEC. Going forward, our work will focus on the COVID-19 economic fallout, safety and soundness, consumer financial protection, economic equity and justice, cybersecurity, appraisals, and stakeholder collaboration.”

The Council also named Blake Paulson, acting Comptroller of the Currency of Office of the Comptroller of the Currency (OCC), as its new vice chairman for the same two-year term.

In other FFIEC news: The Council announced the appointment of Susannah Marshall to its State Liaison Committee (SLC). Marshall was designated by the Conference of State Bank Supervisors (CSBS) to serve on the SLC for a two-year term that begins April 1, 2021, and continues through March 31, 2023.

Marshall has served as Commissioner of the Arkansas Bank Department since October 1, 2020. She began her Bank Department career as commercial bank examiner in 1995, and in 2003 was promoted to financial analyst. In 2005, she was promoted to financial analyst supervisor. In 2007, she was appointed as deputy bank commissioner and served until her 2020 appointment to bank commissioner.

Comment Period on CUSO Proposal Extended
The NCUA Board unanimously approved by notation vote a 30-day extension of the comment period for its proposed rule on credit union service organizations (CUSOs), Part 712.

This rule, proposed during the January 2021 NCUA Board meeting, would expand the list of permissible activities and services for CUSOs. Read more here.

Agencies Seek Views on Use of AI
Five federal financial regulatory agencies, including the NCUA, are gathering insight on financial institutions’ use of artificial intelligence (AI). Through a request for information (RFI), the agencies seek comments to better understand the use of AI, including machine learning; appropriate governance, risk management and controls over AI; challenges in developing, adopting and managing AI; and whether any clarification would be helpful.

Comments will be accepted for 60 days following publication in the Federal Register.

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