ALEXANDRIA, Va.– NCUA has named the director of its new Office of Financial Technology and Access.
Charles Vice has been selected to lead the nascent office and will “serve as the principal advisor to the NCUA Board on agency policy with respect to fintech, and fintech developments and transformation initiatives in the financial services sector, including cryptocurrency, blockchain, and distributed ledger technology,” the agency said.
The new office’s initiatives include exploring methods to enhance the virtual examination and supervision process and promoting the development and deployment of technologies and innovations that can expand financial inclusion and equitable and affordable consumer access within the credit union system, according to NCUA.
Prior Experience
Vice previously served as commissioner of the Kentucky Public Protection Cabinet’s Department of Financial Institutions (DFI) and as treasurer of the National Association of State Credit Union Supervisors (NASCUS). As commissioner of the DFI, the agency said Vice was responsible for the regulatory oversight of all Kentucky state-chartered financial institutions.
Prior to joining DFI, Charles was an employee of the Federal Deposit Insurance Corporation for 18 years, serving as an expert on subprime lending and capital markets.
“I am honored and blessed to join the NCUA team as the Director of Financial Technology and Access,” Vice said. “Technological innovations have permeated almost every aspect of our lives, and this has resulted in the financial services industry changing rapidly over the past few years. The credit union industry plays an important role in the economic success of the United States and is adopting innovative solutions to offer services and connect to members. I look forward to working with the credit union industry to adopt innovative solutions and with all stakeholders to promote fair and equitable access to financial services for existing, new, and potential credit union members.”
Board Member Statements
All three members of the NCUA board offered their support for the hiring.
- “Charles is not only a forward thinker, but he’s also a dedicated public servant bringing a wealth of experience in finance and supervision to this new role,” Chairman Todd M. Harper said. “I am looking forward to working with him on developing and implementing fintech policies and procedures, most especially those that expand economic equity and help to close the wealth gap.”
- “Charles is joining NCUA with years of financial services experience and first-hand knowledge of the credit union world. Most importantly, Charles knows his job is to ensure the NCUA isn’t a technophobic agency. The NCUA board wouldn’t be doing its job if we didn’t embrace fintech, both at the Agency and at America’s more than 4,800 credit unions,” said Vice Chairman Kyle S. Hauptman.
- “Charles Vice’s knowledge and expertise is of tremendous value to the NCUA and for credit unions,” Board Member Rodney E. Hood said. “He has been at the forefront of financial supervision as the Commissioner at the Department of Financial Institutions in the Commonwealth of Kentucky. But more than that, Charles has been at the forefront of advances in regtech and fintech. Charles has my full confidence in guiding the NCUA Board to create a framework that enables credit unions to keep pace and respond to rapidly evolving consumer behavior while also ensuring the safety and soundness of the credit union system.”