SEATTLE-Due to previous responsibilities, Boeing EmployeesCredit Union President and CEO Gary Oakland was unable to testifybefore the board, but had already submitted a letter for therecord. He strongly advocated that the agency better separate itsregulatory and insurance duties. He cited the Deloitte and Touchestudy which he said found that that the agency did not even clearlyunderstand the differentiation. Oakland also said the benefits thatthe agency derives from the state regulators examination of statechartered credit unions should be taken into consideration in theOTR setting process. Oakland argued in favor of a one year OTRreview process, as did CUNA and NASCUS. Additionally, Oaklandattacked the NCUA's mid-session budget review announcement of adecrease in the budget of $3.4 million or 2.31% from 2002 to 2003.However, the actual number represents an increase in costs of $8.5million in 2003 over 2002, he said. “Now I understand that you'renot saying anything false because the budget, rather than theactual expenses did go down,” Oakland admitted. “But you're notpresenting a true picture of how you're spending the money offederally insured credit unions.Let's be honest.”[email protected]