NCUA Appoints New Director to Guide Agency’s Fintech Initiatives

NCUA official seal. (Source: NCUA)

NCUA announced Tuesday that the agency has hired Charles Vice to become director of financial technology and access. The position will focus on NCUA’s fintech policymaking efforts, including cryptocurrency, blockchain and distributed ledger technology initiatives for the credit union industry.

According to the NCUA, Vice has served in a variety of roles both within and outside the credit union field. Most recently, he 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 DFI, he was responsible for the regulatory oversight of all Kentucky state-chartered financial institutions.

In his new role, Vice will serve as principal advisor to the NCUA Board of Directors on fintech-related issues.

“Charles is not only forward thinking, but he is also a dedicated public servant who brings a wealth of financial and oversight experience to this new role,” said Chairman Todd Harper. “I look forward to working with him to develop and implement fintech policies and procedures, particularly those that expand financial equity and help close the wealth gap.”

Charles Vice

In a statement, Vice said: “I am honored and blessed to join the NCUA team as director of financial technology and access. Technological innovations have permeated nearly every aspect of our lives, and this has resulted in the financial industry changing rapidly in recent years. The credit union industry plays an important role in America’s economic success and is adopting innovative solutions to provide services and connect members. I look forward to working with the credit union industry to adopt innovative solutions and with all stakeholders to advance fair and equitable access to financial services for existing, new and prospective credit union members.”

Vice Chairman Kyle Hauptman added, “Charles joins 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 that NCUA is not a technophobic agency. The NCUA board would not do the job its if we didn’t embrace fintech, both at the agency and in America’s more than 4,800 credit unions.”

“Charles Vice’s knowledge and expertise are of tremendous value to NCUA and to credit unions,” said board member Rodney Hood. “He has been at the forefront of financial oversight as Commissioner of 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 ensuring the safety and soundness of the credit union system.”

Prior to his role at DFI, Vice worked at the Federal Deposit Insurance Corporation for 18 years as an expert on subprime mortgages and capital markets.