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NCUA Holds Budget Hearing; Accepting Comments

Thu, Oct 19, 2017

A four-person panel testified at Wednesday’s NCUA budget briefing. Presenters included Money One FCU President/CEO Beverly Zook, as well as a representatives from CUNA, CCUA and NASCUS. Zook called for a focus on efficiency. CUNA Vice President of Research and Policy Analysis Mike Schenk noted several issues CUNA was especially focused on that NCUA has addressed in a constructive way during this year’s budget process.

Those include:

  • Reigning in the budget and right-sizing overall outlays;
  • Reducing staffing levels and controlling compensation costs;
  • Reconfiguration of the regions;
  • Exam efficiency and innovation;
  • Distributions of cost burdens/overhead transfer rate; and
  • Reducing Asset Management and Assistance Center-related spending.

The agency will accept written comments on its budget through 5 p.m. on Oct. 27.

NCUA Chairman J. Mark McWatters said the agency will take the comments into consideration as it prepares its budget, which will likely be voted on during November’s board meeting.