In last week's congressional hearing, NCUA Chairman Debbie Matz assured members of Congress that unredacted documents pertaining to the agency's overhead transfer rate would be made available online. The promise came after a heated debate between Matz and Rep. Mick Mulvaney (R-S.C.) over transparency.
The NCUA said the documents were online as of Friday, as well as its line-by-line budget items. On Monday, NASCUS released a statement affirming the online documents further proved a need for public notice of and comment on the OTR.
What became available for the first time in the unredacted version of the documents was a 2011 report by PriceWaterhouseCoopers LLC (PWC), which recommended that the NCUA consider feedback from stakeholders on how it classifies its insurance related and operational activities for the purposes of determining its OTR. In the congressional hearing, Mulvaney asked Matz if she saw the irony in redacting the portion of the report that called for greater transparency, to which she responded in the affirmative.
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