Senate Vote Possible This Week on McWatters’ Confirmation to NCUA
June 16, 2014
June 17, 2014
J. Mark McWatters’ confirmation to join Chair Debbie Matz and member Rick Metsger on the NCUA board could be finalized by the Senate as soon as This Week, according to a posting on the Executive Calendar for June 17.
Assuming confirmation, McWatters’ term will expire August 2, 2019.
McWatters was nominated by President Obama last December to replace Michael Fryzel. Fryzel’s term expired in August 2013 but he agreed to stay on the board until a successor is confirmed.
The Credit Union National Association last week wrote to Senate Majority Leader Harry Reid (D-Nev.) and Senate Minority Leader Mitch McConnell (R-Ky.) urging an expedited vote, so that McWatters would have time to fully study the proposed risk-based capital rule before it is finalized.
The proposal generated more than 2,000 comment letters and official videos from credit unions and trade associations detailing significant impact the rule would have on credit unions and their service to members.
McWatters is currently the assistant dean for graduate programs at Southern Methodist University’s School of Law in Dallas. He was a member of the Troubled Asset Relief Program (TARP) Congressional Oversight Panel from December 2009-April 2011.
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