NAFCU hails Sens. Heller and Warner introduction of ‘‘National Credit Union Administration Budget Transparency Act’’

WASHINGTON, DC (April 14, 2015) — National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger hailed Sens. Dean Heller, R-Nev., and Mark Warner, D-Va. introduction of the ‘‘National Credit Union Administration Budget Transparency Act.’’

“NAFCU thanks Senators Heller and Warner for their bipartisan leadership in seeking to create a more open and transparent NCUA,” said Berger. “Requiring NCUA to hold public budget hearings is a simple, common-sense practice that will help give credit unions the voice they deserve in the process. NAFCU will continue to support efforts to enhance budget transparency at the agency.”

This bill would amend the Federal Credit Union Act and require NCUA: to make the draft budget publicly available and submit it for publication in the Federal Register; and to hold a public hearing with notice provided to allow for public comments to be submitted on the budget.

Because NCUA’s budget is funded exclusively by the credit unions it regulates, NAFCU has long sought greater transparency from the agency on its budget and expenditures and urged greater fiscal restraint.

The National Association of Federal Credit Unions is the only national trade association that exclusively represents the interests of federally chartered credit unions before the federal government and the public.

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