McWatters Joins NCUA Board

From left: Rep. Jeb Hensarling, exiting board member Michael Fryzel, new board member J. Mark McWatters. (Photo: NCUA)

Mark McWatters took the oath of office and joined the National Credit Union Administration’s board today. The oath was administered by outgoing board member Michael E. Fryzel, whose vacancy on the three-person board McWatters fills.

McWatters was nominated to the position by President Obama in January of this year, confirmed by the Senate Banking Committee in March and by the full Senate on June 19.

“It is my distinct honor and privilege to join the NCUA Board,” said McWatters. “I wish to thank President Obama for submitting my nomination to the Senate, Senate Minority Leader McConnell for recommending my nomination to the President and the Senate for confirming my nomination. As a board member, I look forward to addressing the regulatory and administrative law challenges facing the credit union system as it continues to expand and evolve as a critical and fundamental component of the financial services industry.”

McWatters comes to the NCUA board from a successful legal and administrative career, notably serving on the Troubled Asset Relief Program Congressional Oversight Panel, as counsel to Representative Jeb Hensarling (R-Texas), and as assistant dean and professor at the Southern Methodist University Dedman School of Law.

He also served on the governing board of the Texas Department of Housing and Community Affairs and practiced law as a partner with three large cross-border law firms and as counsel to an international hedge and private equity firm.

Questions about this story? Contact James Pearson: 206.340.4790, jpearson@nwcua.org.

Posted in Federal, NCUA.