The NCUA will hold a public briefing on its proposed 2017-2018 budget on Oct. 27, the agency announced Wednesday.

The briefing will be held from 2 p.m. to 4 p.m. on the same day as the NCUA board's October meeting. The meeting will be held in the agency's boardroom.

The agency will release its proposed budget the week of Oct. 9 in an effort to give stakeholders sufficient time to review the document.

The NCUA has been under pressure to be more transparent about its budget. House Republicans have said the agency should be subject to the annual appropriations process. One of two board members, J. Mark McWatters, has opposed the agency's budget in the past, citing the need for a public hearing and closer scrutiny of agency spending.

At the same time, credit union trade groups have pressed the NCUA to rein in spending.

“We have made a commitment to greater transparency as part of the Continual Quality Improvement initiative, and this briefing is part of how we're fulfilling that commitment,” NCUA Board Chairman Rick Metsger said. “While final budget decisions remain with the Board, we want to hear the constructive comments stakeholders can bring to the table.”

The trade groups praised Metsger's decision to hold the budget briefing.

“We again thank Chairman Metsger for allowing credit union stakeholders the chance to review and comment on the agency's future budget,” NAFCU CEO/President Dan Berger said. “NAFCU encourages NCUA to continue looking within its agency and find cost savings wherever possible to mitigate the financial impact on credit unions.”

“Making the NCUA budgetary process more transparent has been a longtime goal of CUNA and our partners at the state leagues, and we're pleased with this step in the right direction,” Ryan Donovan, CUNA's chief advocacy officer said. “We're concerned with the NCUA's annually increasing budget, particularly as the health of the credit union system has improved greatly over the same time frame.”

Anticipating a crowd, NCUA officials said people who want to attend the briefing in person must submit a request to the agency within a week of the public release of the budget.

The agency also will broadcast the meeting on its website.

Anyone wishing to make written comments on the budget proposal will have until 5 p.m. Eastern time on Nov. 4 to do so.

Instant Insights /

Public Budget Hearing Set for NCUA Oct. 27

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