Removing Barriers Blog

NCUA Board to Address Operating Budget at Next Week’s Meeting
Posted November 09, 2018 by CUNA Advocacy

Next week (Nov. 15 at 10 AM ET), the NCUA Board will vote to approve its 2019 - 2020 operating budget. Last month, CUNA testified before the NCUA Board during its open budget briefing. In his testimony, CUNA Chief Economist Mike Schenk applauded the agency’s improved budget process as well as most of the details of the budget proposal. However, he noted that while the agency’s efforts represent a positive step in the right direction, we urge NCUA to continue to focus on innovation and modernization, more material reductions in the budget, and slowing the growth rate of expenditures.

During the meeting, the Board will also propose a rule on fidelity bonds (Parts 704 and 713) and receive the quarterly update on the Share Insurance Fund.

As usual, the Board meeting will be live streamed on NCUA’s website. A summary will be posted to the Removing Barriers Blog shortly after the meeting.