NCUA Public Affairs Specialist John Fairbanks said Friday theagency is reviewing the spending bill passed by Congress this weekto determine how the federal pay freeze, included in H.R. 933, willapply to theagency's employees and budget.

The Senate passed the $984 billion spending bill Wednesday by a73-26 vote and the House passed it Thursday 318-109. It now awaitsPresident Barack Obama's signature. Obama has expresseddisappointment with the pay freeze but has not threatened to vetoit. The bill will fund the federal government through the end ofthe fiscal year, Sept. 30.

The NCUA's 2013 budget includes a 7.5%increase in employee pay and benefits, which reflected thepossibility of a federal employee pay raise. However, the agencysaid when it unveiled the budget in November 2012 that the raisewas subject to Congressional approval.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.