WASHINGTON (5/19/14)--The confirmation of J. Mark McWatters to the National Credit Union Administration board is still awaiting a final vote, and while it is widely expected that he will be confirmed, it may not be until later next month.
McWatters, who is currently an assistant dean at South Methodist University's School of Law, was nominated last December to replace board member Michael Fryzel, whose term ran from 2008 to Aug. 2 of last year but who is still serving on the board until his successor is seated.
"Senate confirmation of J. Mark McWatters for the seat held by Fryzel may be delayed a bit--but the wait is in no way related to McWatters," said Credit Union National Association President/CEO Bill Cheney in his weekly
"His nomination is grouped with three nominees for the Federal Reserve Board, and political maneuvering among senators over those confirmations is holding up the process."
McWatters will join NCUA Chair Debbie Matz and board member Rick Metsger on the three-person board that governs the NCUA once confirmed. Each member serves a six-year, staggered term.