Michael Fryzel has taken the yoke at NCUA. I use the word yoke because credit unions and the overall financial services marketplace are entering a unique and volatile time. This period will present credit unions and their regulators with challenges and, hopefully, opportunities.

Fortunately for NCUA and for credit unions, Fryzel is familiar with credit unions, having been the Illinois regulator. He seems the perfect candidate to get in and hit the ground running, which is what the agency and industry need right now.

In a statement on taking the top political post at NCUA, Fryzel promised to be vigilant and offer thorough supervision. While this seems obvious at any time, the current market makes this statement particularly important. Credit unions not only need to reassure their members of their safety and soundness, but it should be reaffirming to credit unions as well that its regulator finds them on firm footing.

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