While the NCUA board passed all of the items on its Nov. 19agenda, only the field of membership proposal received nods fromall three members.

Despite the progress made during the board meeting, snarkycomments and innuendoes made it an unforgettable one, as anexchange between NCUA Chairman Debbie Matz and Board Member MarkMcWatters turned heated and accusatory.

After the staff presented the 2016/2017 operating and capital budget, McWatters read a lengthystatement that called into question the validity that the NCUA'sbudget started at zero and was built up from there. He alsoquestioned the efficacy of waiting to implement an 18-monthexamination cycle until after the risk-based capital rule goes intoeffect. McWatters added the NCUA should reduce its budget andimprove budget process transparency.