Take a look at this letter Vic Pantea sent to Chairman Matz. Here’s an excerpt:
The current method for estimating the value of SSA work based on the internal costs of the NCUA exam process may have been acceptable in the days of a lower OTR, but the steadily increasing OTR rate and the exorbitant annual increases in the total NCUA budget demands more accountability. It demands that NCUA create a better process to identify the metrics of SSA work. It requires that actual survey work be accumulated on the state exam process and that the NCUA fulfill its regulatory responsibility to both justify its work hours applied to the OTR and utilize the SSA work product to the “maximum extent feasible.”
Will fair and clear disclosures by the NCUA happen through “evolution” or require “revolution”? I am sure a reasonable person would just think it was expected. A friendly person would think a slight nudge would yield some evolution. And a frustrated person with experience would say it will probably take a revolution!
Thanks to Vic Pantea for trying to get the expected, and looking to nudge them towards evolution, but I am starting to think “revolution” will be required even for something as procedural as this.
Tell Me Why I’m Wrong…