Mark McWattersExpressing supportfor the Senate bill that would require budget hearings, NCUA BoardMember Mark McWatters said the NCUA should lead on the issueregardless of how other agencies handle the budget process.

In a letter sent to the Senate Banking Committee on Friday,Larry Fazio, NCUA director of examination and insurance, noted thatno other financial regulator is subject to a requirement to holdannual budget hearings. Fazio was responding to a series ofquestions from Senate Banking Committee Chairman Richard Shelby(R-Ala.) following his testimony at a hearing on Feb. 10.

McWatters argued that budget hearings would not compromise the independence of theNCUA.

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