NCUA Holds Budget Briefing

Yesterday, the National Credit Union Administration (NCUA) Board held its budget briefing for it's 2019-2020 proposed budget.

CUNA’s Chief Economist, Mike Schenk, testified on behalf of CUNA.  

On behalf of CUNA, Schenk urged the agency to include CUNA’s recommendations in its budget process. Some of the recommendations called for greater transparency of the NCUA budget process, clear and concise communication of agency’s strategic plan, providing budget details and justifications to the public in advance, to name a few of the items Schenk brought forth at the meeting. For Schenk’s full remarks, click here.

Schenk did state that that with holding an open budget briefing session and soliciting feedback is good public policy on the part of NCUA and improves government transparency.

For more details on the NCUA’s 2019-2020 proposed budget click here. Public comments on the proposed budget are due to NCUA by October 26th. The Board is scheduled to approve a final budget at its November 15th Open Board meeting.

Questions about submitting comments to the proposed NCUA budget? Contact NJCUL’s Nicola Foggie at nfoggie@njcul.org.

in Compliance & Regulatory News