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NCUA Board Member J. Mark McWatters last week said public hearings on the agency's budget would lead to greater transparency and accountability and noted support for legislation in the both the House and Senate that would make them happen.

"I reject the notion that budget hearings would merely constitute ‘dog and pony shows' as a deeply cynical and flawed view," McWatters said in a speech before a credit union gathering in Pennsylvania. "Speaking for myself, I would be honored to listen to and thoughtfully consider comments of the community on the budget and budgetary process. It's simply a matter of respect and professionalism evidenced through the lens of transparency and full accountability."

The two bills McWatters is referring to would call for public hearings on NCUA's annual budget and require publication of the agency's draft budget in the Federal Register. H.R. 2287, the "National Credit Union Administration Budget Transparency Act," introduced last week by Reps. Mick Mulvaney, R-S.C., and Krysten Sinema, D-Ariz., mirrors a bill introduced last month in the Senate by Sens. Dean Heller, R-Nev., and Mark Warner, D-Va. NAFCU supports both bills.

NCUA budget hearings are also called for in the draft regulatory improvement bill released last week by Senate Banking Chairman Richard Shelby, R-Ala., which is scheduled for a mark-up on Thursday.

Both NCUA Board Chairman Debbie Matz and Vice Chairman Rick Metsger have publicly opposed holding public budget hearings.