June 13, 2014

Senate may confirm McWatters this week

May 16, 2014 – NAFCU is watching for Senate action this week to confirm the nomination of Mark McWatters to the NCUA Board.

The Senate approved all current Federal Reserve Board nominations last week, action that paves the way for votes on other federal agency nominations, including that of McWatters to succeed Michael Fryzel on the NCUA Board.

Nominated in January, McWatters testified on his nomination in March and was reported out favorably by the Senate Banking Committee in April. His term would run through Aug. 2, 2019.

NCUA Chairman Debbie Matz and Board Member Rick Metsger are serving for terms that continue through Aug 2, 2015, and Aug. 2, 2017, respectively.

On Thursday evening, Senate leaders reached an agreement to vote on McWatters and will likely set a time for the vote this week. The Senate adjourned Thursday and will reconvene today at 2 p.m.