Certified Information Privacy Professional (CIPP) Practice Questions

The National Credit Union Administration (NCUA) is the federal agency responsible for supervising federally chartered credit unions. This agency was created to ensure the safety and soundness of the credit union system and to protect consumer interests. The NCUA provides regulatory oversight, inspects credit unions, and manages the National Credit Union Share Insurance Fund, which insures deposits at federally insured credit unions.

In contrast, the Consumer Financial Protection Bureau (CFPB) primarily focuses on consumer protection in the financial sector, including various financial institutions but not specific to credit unions alone. The Federal Deposit Insurance Corporation (FDIC) is tasked with regulating and insuring banks, while the Office of the Comptroller of the Currency (OCC) supervises nationally chartered banks. Hence, they do not hold the supervisory role over credit unions like the NCUA does.