NCUA Board Member Gigi Hyland’s term was scheduled to end Tuesday, but she doesn’t have to leave.
Hyland, a Democrat nominated by President Bush who took office on November 10, 2005, is allowed by law to remain in office until a successor is sworn in.
President Obama hasn’t nominated a new board member yet and even when he does it could take several weeks or months for the Senate to confirm him or her.
The Senate is scheduled to leave town for its summer recess later this week and won’t return until early September. Before NCUA Chairman Debbie Matz took office in 2009, Hyland was the only member who had had direct experience in credit unions.
Hyland had been senior vice president and general counsel of Empire Corporate FCU and before that was executive director of the Association of Corporate Credit Unions.