Newsroom

October 07, 2016

NAFCU watching for NCUA budget draft

NAFCU staff will be on the lookout for NCUA's discussion draft budget this week.

The agency said its budget plans would be released this week so stakeholders could review them before the budget briefing set for Oct. 27, from 2 to 4 p.m. Eastern. The NCUA Board will also hold its open meeting that morning.

NCUA Board Chairman Rick Metsger first announced at NAFCU's Annual Conference in June that the agency would hold a public budget briefing in October. During the mid-session budget review in July, NCUA projected $2.7 million in reduced spending for 2016.

NAFCU had long advocated a public NCUA budget hearing.

Also this week, Thursday is the deadline to submit comments to the Federal Housing Finance Agency on how Fannie Mae and Freddie Mac can shift more mortgage-market risk to private investors and away from taxpayers. NAFCU has collected input from its members and will be submitting comments.