June 12, 2014

McWatters confirmed to NCUA Board

June 20, 2014 – The Senate by voice vote Thursday confirmed Mark McWatters to a term on the NCUA Board that will last through Aug. 2, 2019.

NAFCU President and CEO Dan Berger said the association welcomes the opportunity to work with McWatters. "NAFCU congratulates Mr. McWatters on his confirmation," said Berger. "We stand ready to work with Mr. McWatters and to continue our efforts with NCUA to ensure a positive regulatory environment for credit unions, especially concerning the proposed risk-based capital rule."

McWatters was nominated this January to succeed Michael Fryzel on the board. He testified on his nomination this March before the Senate Banking Committee. During the hearing, McWatters told the panel he intended to look closely at NCUA's risk-based capital proposal – "the devil is in the details," he said. He also said he saw opportunities for low-income credit unions to do more to meet the needs of underserved consumers.

Only two of NCUA's three board members may be from the same political party. McWatters is a Republican. Democrats Debbie Matz, the board's chairman, and Rick Metsger, a member of the board, have terms that will continue through Aug. 2, 2015, and Aug. 2, 2017, respectively.

McWatters, once sworn in, could participate in his first NCUA Board meeting next month. The board is scheduled to meet in open session July 31.