WASHINGTON-Gigi Hyland, general counsel for Empire Corporate Federal Credit Union, has been nominated by President George W. Bush to the NCUA Board. "I am deeply honored that the President intends to nominate me to serve on the National Credit Union Administration Board. I look forward to the Senate confirmation process,"...
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WASHINGTON-Gigi Hyland, general counsel for Empire Corporate Federal Credit Union, has been nominated by President George W. Bush to the NCUA Board. “I am deeply honored that the President intends to nominate me to serve on the National Credit Union Administration Board. I look forward to the Senate confirmation process,” she said shortly before it became official. Hyland previously served as vice president of CUNA and executive director for the Association of Corporate Credit Unions. She received her bachelor’s degree from the College of William and Mary and her JD from George Mason University. The Senate received Hyland’s nomination and has referred it to the Banking Committee for a confirmation hearing though nothing had been scheduled at press time. Hyland will replace Debbie Matz, whose last day was Sept. 30. The term expires Aug. 2, 2011. However, insiders have suggested that Republican NCUA Board Nominee Rodney Hood could be named to the longer term, leaving Hyland with less than four years on former NCUA Chairman Dennis Dollar’s old seat. The NCUA Board has long awaited a third board member since Dollar resigned. “I welcome the President’s outstanding nomination of Gigi Hyland to the NCUA Board,” Johnson said. “Gigi will bring a wealth of experience and knowledge of the credit union industry to the NCUA. I know her perspective of America’s credit unions will enhance NCUA’s safety and soundness program, as well as the approach of regulatory flexibility.I look forward to working with Gigi in the days ahead.” As of Oct. 3, Chairman JoAnn Johnson is the sole member of the NCUA Board. There is precedent for this scenario, as Dollar served as the only board member at the January 2002 NCUA Board meeting while waiting for Johnson and Matz’ appointments. CUNA Senior Legislative Counsel and Vice President of Legislative Affairs Gary Kohn explained, “It might be difficult for them to hold a nomination hearing and a vote in the committee and then a vote on the Senate floor before [the next NCUA Board meeting] because they’re in for only three days this week and then next week, Congress is in recess for the Columbus Day holiday.I suppose anything is possible.” “I don’t think anything is scheduled in the immediate term to look at them although I’d expect with two vacancies on the board that will be something they will try to act on,” NAFCU Director of Legislative Affairs Brad Thaler said. There is also the possibility of recess appointments for both candidates. Like Dollar, NCUA Director of External Affairs Nick Owens said Johnson will likely defer on non-essential policy issues at the October board meeting until the other board members are installed. “However, the Chairman is in the position to address any imminent safety and soundness issues which would require action by the board,” he added. USDA official Rodney Hood was nominated in May to Dollar’s seat, which has been vacant for more than a year. Those in the know have said they expect the Hood and Hyland nominations to move through the Senate in tandem. The credit union community has been upbeat about the nomination. “We commend the White House for naming someone to the NCUA Board with credit union experience, which Ms. Hyland certainly has,” CUNA President and CEO Dan Mica commented. “CUNA has long recognized it is good public policy to have at least one member of the NCUA Board with credit union experience. We also appreciate the White House’s efforts to return the Board to its full complement of members.” “I have known and had the pleasure of working with Gigi since I came to NAFCU more than five years ago,” NAFCU President and CEO Fred Becker said. “Gigi is bright, committed to her profession and remains steadfast in her beliefs about the values in the credit union community.” California Credit Union League President and CEO David L. Chatfield, a former NCUA Board member himself, supported Hyland’s nomination as well. “I have known Gigi for many years, and she has proven to be an outstanding professional within the credit union movement,” Chatfield said. “She is uniquely qualified and would be an excellent NCUA Board member.” He concluded, “Her knowledge and experience will be of great benefit to the NCUA Board and to the credit unions the NCUA regulates.” -
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