NCUA’s proposed budget reflects a 0.1% decline from the previous year, and CUNA commends the agency due to proposed activities and expenditures generally aligning with previously announced and vetted strategic. CUNA also believes it also appropriately responds to changing supervisory priorities in light of the COVID-19 Crisis.
“We believe there is immense capacity for NCUA to reduce its footprint, right-size the organization and come out of the resulting transition as a nimble, stronger, more efficient and more effective regulator,” the letter adds.
CUNA also commends the agency for continuing to provide comprehensive budget information and a rationalization of the budget and agency expenditures in advance, as well as holding an open briefing.
The board is scheduled to vote on the budget at its Dec. 18 meeting.