House version of NCUA budget transparency act introduced

May 13, 2015

WASHINGTON (5/13/15)--A U.S. House bill was introduced Tuesday night that would require the National Credit Union Administration to open its budget process to the public.

Reps. Mick Mulvaney (R-S.C.) and Kyrsten Sinema (D-Ariz.) introduced the bill, which is the House companion to a bill introduced in the Senate in April by Sens. Dean Heller (R-Nev.) and Mark Warner (D-Va.).

The bill would require the NCUA to make a copy of its draft operating budget publicly available. It would also require the agency to provide notice of a public hearing, conduct the hearing and allow the public to submit comments on the budget.

CUNA President/CEO Jim Nussle wrote in support of the Heller-Warner bill in April, adding that his background as a former House Budget Committee chair makes him acutely aware of the importance of soliciting public input during the budgetary process.