Board Riff: Johnson and Matz Agree on Proposal, but Playing Politics

ALEXANDRIA, Va. - Despite the kind words, NCUA Board Member Debbie Matz issued her own press statement backing the proposal after the supporting letter she submitted to Chairman Johnson's office for inclusion with the delivery of the proposal on the Hill was rejected, according to Matz' Executive Assistant Steve Bosack. Matz said she was "puzzled as to why the chair determined to operate that way." The Democratic board member commented that including a letter from the board member of the opposite party "certainly makes it look better for the board." She pointed out that former Chairman Dennis Dollar was highly effective in reaching across party lines. NCUA Director of External Affairs and Special Assistant to the Chairman Nicholas Owens said the chairman's office never received such a letter from Matz. Matz also said she was not consulted initially on the proposal and received her first briefing even after some of the trade associations. Still, Matz is lending her support to the proposal. Owens explained the first proposal was a jumping off point to arrive at the final proposal and that Chairman Johnson sought all input. Anyone who has worked with Johnson knows of her "open door policy," he said. Owens emphasized, "Chairman Johnson has never been one to seek credit. Without her leadership, it would not be where it is today." He said the proposal was sent to the Hill with cover correspondence from the chairman, as is customary. Matz summed up, "Let's just say we've worked this through and we're in agreement on this particular issue," Matz said. Industry sources have said that the argument may boil down to an issue of who can take credit for what and at what point. - scooke@cutimes.com