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The Future of Credit Unions: NCUA Vice Chairman's 2024 Vision
Manage episode 441564519 series 3543943
Kandungan disediakan oleh Credit Union Exam Solutions by Mark Treichel and Credit Union Exam Solutions Inc.. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh Credit Union Exam Solutions by Mark Treichel and Credit Union Exam Solutions Inc. atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.
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# Show Notes: NCUA Vice Chairman Hauptman's 2024 ACU Congressional Caucus Remarks
## Key Points:
1. Records Retention Policy Update
- NCUA revising policies to limit required retention periods
- Prompted by feedback from credit unions
2. Overdraft and NSF Fees
- Hauptman opposes forcing large credit unions to publicly state revenue from these fees
- Warns against over-regulation potentially limiting financial access
3. Technology and Innovation
- NCUA exploring AI for fraud detection and customer service
- Discussion on digital assets and stablecoins in credit union evolution
## Notable Quotes:
- "The only people who think compliance is easy are those that don't have to do it."
- "America's more than 140 million credit union members know their lives better than we do."
- "My true north is making sure credit unions don't go the way of Blockbuster video because their regulator wouldn't let them compete."
## Context:
- Speech delivered on September 9, 2024
- Hauptman's term on the NCUA Board ends in August 2025
## Call to Action:
For assistance with NCUA exams, contact Mark Treichel at marktreichel.com or on LinkedIn.
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