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.

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, and

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