CUNA submitted additional written comments to NCUA Friday on the agency’s proposed 2019 operating budget. CUNA’s letter follows up CUNA Senior Economist Mike Schenk’s presentation to the board at its budget briefing earlier this month.
“CUNA recognizes and applauds NCUA’s improved budget process as well as most of the details of the budget proposal. Together, they continue to represent a clear, positive, and significant step in the right direction as the agency works to become a leader and innovator in the financial services industry,” the letter reads. “We hope NCUA will continue to focus on innovation and modernization, more material reductions in the budget, and slowing the growth rate of expenditures.”
CUNA praised NCUA for:
CUNA also urged the agency to:
“We believe there is immense capacity for NCUA to reduce its footprint, right-size the organization, and emerge from the resulting transition as a nimbler, stronger, and more efficient and effective regulatory body,” the letter reads.
NCUA is expected to vote on the proposed budget at its Nov. 15 meeting.