H. Rept. 114-868 1 (2016-12-12)

handle is hein.congrecreports/crptxryq0001 and id is 1 raw text is: AUT-ENTICATED

                   114TH CONGRESS                                    REPORT
                     2d Session    HOUSE  OF REPRESENTATIVES         114-868

                                      TRANSPARENCY ACT

                  DECEMBER 12, 2016.-Committed to the Committee of the Whole House on the State
                                   of the Union and ordered to be printed

                      Mr. HENSARLING, from the Committee on Financial Services,
                                      submitted the following


                                           together with

                                        MINORITY   VIEWS

                                        [To accompany H.R. 2287]

                            [Including cost estimate of the Congressional Budget Office]
                    The  Committee on Financial Services, to whom was referred the
                  bill (H.R. 2287) to require the National Credit Union Administra-
                  tion to hold public hearings and receive comments from the public
                  on its budget, and for other purposes, having considered the same,
                  report favorably thereon without amendment and recommend  that
                  the bill do pass.
                                      PURPOSE  AND SUMMARY
                    H.R. 2287 amends  Section 209(b) of the Federal Credit Union Act
                    (12 U.S.C. 1789) to require the National Credit Union Administra-
                  tion Board, before the annual submission of its detailed budget, to:
                        (1) print a draft of the budget in the Federal Register;
                        (2) hold a public hearing to receive comments from the pub-
                      lic on the draft; and
                        (3) detail how the budget will address comments submitted
                      by the public.
                              BACKGROUND   AND NEED  FOR LEGISLATION
                    The  NCUA  operates independent of the congressional appropria-
                  tions process. The NCUA annual operating budget that funds cred-
                  it union examination and  supervisory activity is in turn funded

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