NCUA Budget Increases "Egregious" Says NAFCU CEO

Dan Berger

"NAFCU has consistently advocated against egregious increases to the NCUA’s operating budget. An increase of 7.5 percent for 2023, even within an inflationary environment, is simply not justifiable to credit unions and their 134 million members across the country who will have to bear this burden. While NAFCU supports an engaged and supportive NCUA, we do not support undefined cyber security expenses, nor do we support examiner staffing increases without adequate justification. We also request increased oversight throughout the year to prevent cost overruns like we experienced with the agency’s uncontrolled management of MERIT funding.  NAFCU looks forward to evaluating the agency’s actual budgetary needs throughout 2023 to encourage a re-evaluation and reduction of the currently projected 12 percent operating budget increase for 2024."
- NAFCU President and CEO Dan Berger.

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