Leaders of the NCUA and credit union trade organizations said Thursday they look forward to working with President Barack Obama’s pick for the NCUA Board, Mark McWatters, if he is confirmed.
The White House announced this week that the president intended to nominate the Texas tax lawyer, law school dean and former member of the TARP Oversight Committee to succeed Michael Fryzel as the GOP member of the three-person panel.
His nomination has not yet officially been sent to the Senate.
“It’s a great honor to serve on the NCUA Board, and I congratulate Mr. McWatters on his appointment,” said NCUA Chairman Debbie Matz. “He has an impressive background. I look forward to meeting him and, should he be confirmed, working with him to protect the safety and soundness of America’s federally insured credit unions and their 96 million members.”
Fryzel’s term expired earlier this year.
“Mark McWatters will bring an outstanding background and a wealth of knowledge to the NCUA Board,” Fryzel said. “His familiarity with the federal government process along with his legal and financial expertise will enable him to be an effective regulator of the credit union industry. I wish him well as he proceeds through his nomination and confirmation process.”
Richard Metsger was confirmed for a spot on the board this year.
“Congratulations to Mr. McWatters on his nomination to serve on the NCUA Board,” Metsger said. “Protecting credit unions and their members is an important responsibility, and the credit union system is facing a future that holds both risk and opportunity. I wish him success through his nomination process.”
NAFCU President/CEO Dan Berger called McWatters to congratulate him on the nomination, the trade group said.
“NAFCU commends McWatters on his selection by President Obama for the NCUA Board. We stand ready to work with McWatters should he be confirmed,” Berger said. “We also look forward to continuing our work with the NCUA to ensure a positive regulatory environment for credit unions."
CUNA President/CEO Bill Cheney told Credit Union Times on Thursday that McWatters “brings a wealth of experience and we look forward to working with him in the future.”
McWatters currently is an assistant dean at the law school at Southern Methodist University in Dallas and is a former adviser to U.S. Rep. Jeb Hensarling (R-Texas), chair of the House Financial Services Committee.