ALEXANDRIA, Va. (7/8/08)—Michael Fryzel issued a statement through the National Credit Union Administration (NCUA) Monday stating he will be ready to take the oath of office and assume the duties as chairman at the end of July. “As required by law, I will be dissolving my law practice in Illinois during this interim period. I eagerly anticipate the commencement of my service as chairman,” Fryzel said. Fryzel was confirmed by the Senate to succeed JoAnn Johnson at the agency and is expected to be designated chairman by the president once he takes his oath of office. Johnson had said recently that she was prepared to stay at the helm of the agency until Aug. 1 to give Fryzel a chance to wrap up pending matters prior to joining the NCUA. Fryzel was with the Illinois Department of Financial Institutions from 1977 to 1989 and headed the agency from 1982 to 1989. Upon leaving that position, Fryzel founded his private law practice, the Law Offices of Michael Fryzel, which specialized in financial regulatory and real estate law.