Dan Berger, NAFCU
WASHINGTON—The National Credit Union Administration Budget Transparency Act has been introduced by the House.
HR 227 was submitted by Rep. Mick Mulvaney (R-SC) and Kyrsten Sinema (D-AZ). H.R. 2287, the “National Credit Union Administration Budget Transparency Act,” would require NCUA to provide notice of a public hearing on its budget and invite comments on it.
The House bill is identical to legislation introduced last month by Sens. Dean Heller (R-NV) and Mark Warner (D-VA) that also call for public hearings on NCUA’s annual budget and require publication of the agency’s draft budget in the Federal Register. In addition, NCUA budget hearings are also called for in the draft regulatory improvement bill released Tuesday by Senate Banking Chairman Richard Shelby (R-AL).
Earlier this year Rep. Mulvaney also introduced HR 1176, which would require the Government Accountability Office to study nearly every aspect of NCUA’s budgeting and expenditure practices.
“We appreciate the leadership shown by Representatives Mulvaney and Sinema in putting forth legislation to help achieve NCUA budget transparency,” said NAFCU CEO Dan Berger. “We believe requiring NCUA to hold public budget hearings is a simple, common-sense practice that will help give credit unions a voice in the agency’s setting of the yearly operating budget, which is funded directly by credit unions and their members.”