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The NCUA announced its budget increase at the last board meeting much to the dismay of the industry that supports it financially. While some acknowledged additional spending might be necessary to handle problem credit unions and the corporates, others were downright-I’ll clean it up-mad.

The day after the board meeting, NAFCU President/CEO Fred Becker sent a letter to the NCUA that “seriously questioned” whether more than $1 million worth of paintings, furniture replacement and bathroom upgrades were 100% necessary at a time when credit unions are so badly hurting. He also pointed out that the NCUA has a higher ratio of examiners to assets than the FDIC, which supervises more complex institutions.

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