Sens. Dean Heller (R-Nev.) and Mark Warner (D-Va.) introduced abill on Tuesday that would require the NCUA to hold public hearingsand receive public comments from the public on its operatingbudget.

Both Heller and Warner are members of the Senate Committee onBanking, Housing, and Urban Affairs.

NCUA Board Member Mark McWatters called for budget hearings at a board meeting in November of last year. Healso said the operating budget should be made available in advanceof the full board vote. NCUA Board Chairman Debbie Matzdisagreed.

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“Each board member is entitled to their own beliefs. I do notbelieve it's prudent to release our budget in advance or to holdhearings on our budget,” Matz said. “Congress specifically providedthe board with the statutory authority to determine how we spendour money. They gave us the authority to raise funds from thecredit unions but they specifically gave the board the authority todetermine how the funds are spent.”

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