ARLINGTON, Va.–With NCUA’s 2015 mid-year budget review scheduled for next week’s agency board meeting, NAFCU is calling on NCUA to “look at each line item of the budget with the explicit goal of achieving cost-savings.”
In a comment letter in advance of the meeting, NAFCU CEO Dan Berger reiterated NAFCU's call for the agency to do more regarding transparency in its budget process, and further pointed to attention that Congress has given to NCUA’s budgeting process.
"We have seen the NCUA Budget Transparency Act (H.R. 1176), introduced in February, to require the GAO to study ways to improve the agency’s budget transparency," Berger wrote.
Berger also cited the National Credit Union Administration Budget Transparency Act (H.R. 2287, S. 924), which is also before Congress and would to require NCUA to hold a public hearing and seek comment on its budget.
Berger said NAFCU believes "credit unions deserve clearer disclosures of how the fees they pay the agency are managed,” and repeated NAFCU's opposition to spending credit union resources to expand NCUA’s examination authority into non-credit union third parties.
"NAFCU and our members firmly believe that such authority is unnecessary and will require considerable expenditure of the agency’s resources and time,” Berger said.
The full text of the letter appears in CUToday.info’s The Gov section here.