Internal legal memos from the NCUA's general counsel to its board on the methodology and how it calculates the overhead transfer rate was considered "attorney work product."Therefore, it is privileged and confidential information that is exempted from the Freedom of Information Act, the NCUA alleged in a letter to NASCUS that was released to CU Times Monday.
NASCUS President/CEO Lucy Ito had previously called on the NCUA to release all of its documents related to the OTR, as well as how it is determined.
The NCUA replied with a letter from general counsel Mark McKenna, dated July 30, which called out Ito for publicly requesting a public evaluation of "differing legal conclusions about whether the OTR or its methodology are subject to the notice and comment requirements under the Administrative Procedure Act."
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