If Thursday’s National Credit Union Administration 2022 budget briefing was any indication, the agency board could have a hard time reaching a consensus by Dec. 16, when the board is scheduled to vote on the spending document.
The board will consider its final budget at the Dec. 16 meeting, after considering a draft budget during a briefing and public hearing on Thursday. The draft reflected many of the priorities of board Chairman Todd Harper, such as hiring additional examiners to increase the agency’s focus on consumer protection issues.
Board member Rodney Hood said during the budget briefing that waiting until December to consider the budget leaves little time to forge a compromise. Budgets traditionally have been presented earlier in the year.
On Dec. 16, the board will consider the agency’s Normal Operating Level, which currently is set at 1.38%. The board sought comment on setting the operating level earlier this year and credit union trade groups asked that it be decreased to 1.30%.
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