WASHINGTON-Speaking to CUNA's Examination and Supervision Subcommittee, acting NCUA Chairman Dennis Dollar said that he would make the agency's budget process more open by holding a public hearing on the matter. Though not specifying a date, Dollar said the hearing would occur sometime in the fall. He said a hearing at that time would be most effective because the budget would begin "to jell enough to have a clear shape.We want to make sure that we can make any changes on issues which arise at the hearing and we find compelling and appropriate." The chairman noted that credit unions might not get everything they want from the budget, but the process will definitely be more open. The credit union trade associations have complained of the increasing NCUA budget of recent years as budgets at other agencies, like the FDIC, have shrunk. Dollar's proposal to begin an 18-month exam cycle, expected to be raised at the July board meeting, should provide some budgetary relief. "I think it's the right thing to do.We appreciate [Dollar's] efforts to bring government into the sunshine," NAFCU Senior Vice President and General Counsel Bill Donovan said. [email protected]

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.