February 17, 2014

NCUA nominee McWatters to testify

Mark McWatters, nominated by the president to succeed Michael Fryzel on the NCUA Board, is scheduled to testify on his nomination during a March 4 hearing of the Senate Banking Committee.

The president nominated McWatters to the NCUA Board Jan. 7 to a term that continues through Aug. 2, 2019. NAFCU President and CEO Dan Berger said NAFCU looks forward to working with McWatters upon his confirmation, along with other NCUA Board members and staff, "to ensure a positive regulatory environment for credit unions."

McWatters will appear during the March 4 hearing with several other nominees, including Federal Reserve Board nominees Stanley Fischer, Jerome Powell and Lael Brainard (Fischer has also been nomimated to be Fed vice chairman); and Gustavo Velasquez Aguilar, nominated as an assistant secretary for the Department of Housing and Urban Development.

From 2009 to 2011, McWatters served on the Troubled Assets Relief Program Congressional Oversight Panel. Before that, he served as counsel to Rep. Jeb Hensarling, R-Texas, now chairman of the House Financial Services Committee. He's currently the assistant dean for graduate programs and an adjunct professor at the Southern Methodist University Dedman School of Law.

Fryzel's NCUA Board term ended last Aug. 2, but he is authorized by federal law to remain in his post until a successor is confirmed.