Senate Confirms McWatters to NCUA Board
June 19, 2014
June 19, 2014
The United States Senate voted Thursday to confirm J. Mark McWatters as the newest member of the National Credit Union Administration Board. He joins Chair Debbie Matz and Director Rick Metsger.
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 until a successor could be confirmed.
McWatters’ term will expire August 2, 2019. The date for his swearing in has not yet been determined.
McWatters joins the NCUA in the final stages of risk-based capital rulemaking. The proposal generated more than 2,000 comment letters and official videos from the credit union industry, detailing significant consequences it would have on credit unions and their service to members.
The proposal is expected to generate additional interest at the listening sessions the NCUA has scheduled for this summer.
McWatters is currently an 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.
“I’ve had an opportunity to get to know Mark in recent months, and I certainly look forward to his joining the Board,” NCUA Board Chairman Debbie Matz said. “Mark is experienced, thoughtful, judicious and values a collaborative process to get things done. I know credit unions and their members will be well served by his presence on the board.”
“The agency and the credit union system will benefit from Mark’s judgment and experience,” Board Member Rick Metsger said. “I congratulate him and welcome him to the Board. I look forward to working together, and I hope he will find this job as interesting, challenging and rewarding as I do.”
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