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Confirmed Matz promises focused positive agenda
WASHINGTON (8/10/09)—In her first comments since she was confirmed to return to the National Credit Union Administration board, incoming NCUA Chairman Deborah Matz promised a “focused and positive agenda” that will be “characterized by an ongoing priority on reform and revitalization.”
Click to view larger imageDeborah Matz, who was unanimously confirmed to join the NCUA on Friday, has promised "reform" and "revitalization" during her tenure as NCUA Chairman. She is shown here at her nomination hearing. (CUNA Photo)
Matz was unanimously confirmed by the full Senate on Friday, and will soon join the NCUA board for the second time. Matz's nomination was scheduled for Senate approval several times in recent days, but a busy Senate calendar, dominated by such things as okaying $2 billion to extend the "cash for clunkers" program, and approving Sonia Sotomayor as a Supreme Court Justice, pushed back the Matz vote. Matz last served on the board between 2002 and 2005, and most recently held the position of executive vice president and chief operating officer of Maryland-based, $800 million-in-assets Andrews FCU, an experience which Matz said "sensitized" her "to the need for effective, rather than excessive, regulation." Current NCUA Chairman Michael E. Fryzel congratulated Matz on her confirmation, adding that he is certain that Matz will meet the “current economic turmoil and challenges,” challenges that require “strong, practical, progressive leadership,” with confidence. Credit Union National Association (CUNA) President/CEO Dan Mica joined Fryzel in congratulating Matz on her confirmation, saying that CUNA looks forward to working with Matz to ensure the "continued safety and soundness of credit unions" and to foster "a regulatory environment in which credit unions may continue to grow, prosper and effectively serve their members." Matz has taken on so-called “progressive” stances in the past, as she in 2002 provided the lone vote against what she has called "overly broad and permissive" NCUA corporate credit union regulations. Matz during recent Senate committee testimony also promised to revamp some aspects of the NCUA's rules governing corporate credit unions, and, more generally, stated that further work is needed to stabilize the corporate credit union system. Matz in her statement also pledged to work with the NCUA, credit union volunteers, and credit union staff to ensure that the “vital” role that credit unions play in American life is “not only preserved, but enhanced” going forward.
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