The House Financial Services Committee will mark up a host ofbills Dec. 8, two of which will affect credit unions if ultimatelysigned into law.

The NCUA Budget Transparency Act (H.R. 2287) calls for theNCUAto conduct public budget hearings and receive comments from thepublic on its budget. H.R. 2287 was introduced by Rep. MickMulvaney (R-S.C.) in May and also requires the budget to be printedin the Federal Register.

The NCUA's budget and discontinuance of an annual budget hearinghas been subject to scrutiny by trade organizations and NCUA BoardMember J. Mark McWatters.

“It is unfortunate that Congress mustintervene in what the NCUA board should have undertaken toimplement on its own accord. These are not difficult issues – morebudgetary transparency is better than less and the NCUA boardshould seek input from the credit union community on the budget andthe budgetary process,” McWatters told CU Times. “Sure,the NCUA board sets the budget, but out of respect for the creditunion community – the people who actually fund the NCUA's budget –the NCUA board should hold a public hearing on the budget and allowmembers of the community and the public to comment on the record.That's a fundamental component of transparency and accountabilityand the bedrock of budgetary efficiency.”

Also on tap for Tuesday's markup is the Data Security Act of2015 (H.R. 2205). Introduced by Rep. Randy Neugebauer (R-Texas),the bill would establish national security standards for retailersthat would protect consumer payment and personal information.

The markup received the support of NAFCU President/CEO DanBerger.

“I appreciate Chairman Jeb Hensarling's commitment to datasecurity and ensuring that all entities holding consumers' personalfinancial data are held to the same standards credit unions arealready accountable to,” he said in a statement. “I also thank himfor his attention to the budgeting process of (the) NCUA and theimportance of making that process more transparent to creditunions.

Other bills up for consideration during Tuesday's markupinclude: the Fair Opportunities for Professional Experts Act (H.R.2187), the Housing Opportunity through Modernization Act, the SECSmall Business Advocate Act of 2015 (H.R. 3784), H.R. 3791, whichaims to raise the consolidated asset threshold under the small bankholding company policy statement, the Small Business CapitalFormation Enhancement Act (H.R. 4168), and a resolution that wouldcreate a task force to investigate terrorism financing in the HouseFinancial Services Committee.