NCUA Budget Briefing Planned for Oct. 27

The National Credit Union Administration will hold public hearings on its 2017-2018 budget during a budget briefing set for Oct. 27, the regulator announced today – a move welcomed by credit union trade groups that have long advocated for a more transparent budget process from NCUA.

Dan Berger, president and CEO of the National Association of Federal Credit Unions, praised the regulator for its plans to hold the meeting, "We again thank Chairman [Rick] Metsger for allowing credit union stakeholders the chance to review and comment on the agency's future budget," he said.

Representatives from the Credit Union National Association did not respond to requests for comment.

Metsger originally announced the plan for a budget briefing at NAFCU's annual conference held earlier this year. At the NAFCU conference the Board Chairman said, "This budget briefing will be more comprehensive than the briefings previously held by the agency. For example, we will release more details on the proposed budget before the briefing, so stakeholders can review and analyze the information before they participate,"

In a statement announcing the briefing, Metsger said the hearing was part of "a commitment to greater transparency as part of the Continual Quality Improvement initiative, and this briefing is part of how we're fulfilling that commitment."

A draft budget, briefing agenda, attendance details, structure and additional details will be released during the week of Oct. 9 to give sufficient time for review. The comment period for the proposed budget draft will run until Nov. 4, at 5 p.m. EST.

announced Oct. 27 as the date for the regulator's 2017-18 budget briefing. The meeting will run from 2 p.m. to 4 p.m. EST in the agency's boardroom, as well as livestreamed through the agency's website.