The Senate has completed its legislative business for the year – a development that ensures President-Elect Donald Trump can create a Republican majority on the NCUA board.

Current Republican board member J. Mark McWatters had been nominated for a seat on the Export-Import Bank. However, the Senate Banking Committee, whose Chairman, Sen. Richard Shelby (R-Ala.), opposes the bank’s existence, never considered confirming McWatters. That means McWatters, a Republican, will stay on the board.

McWatters alluded to that in a column in the December issue of the NCUA Report newsletter.

In that column, he outlined priorities for the year and concluded, “With your help, I look forward to tackling these and other issues of importance in 2017.”

President Obama also nominated John Herrera, SVP for Latino and Hispanic Affairs at the Durham, N.C.-based, $738 million Self-Help Credit Union, for a seat on the NCUA board. The Banking Committee never considered that nomination.

That allows Trump to nominate a Republican to create a GOP majority on the panel. The president can nominate two members of his own party for the board.

Trump has another decision to make – designating a chairman of the board. Current Chairman Rick Metsger is a Democrat and was selected by Obama.

Trump likely would designate a Republican as chairman and speculation has centered on McWatters for that position.

Instant Insights /

McWatters Likely to Stay on NCUA Board, Herrera Unlikely to Join

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