The U.S. Senate confirmed J. Mark McWatters to the National Credit Union Administration board Thursday, a term that will last through Aug. 2, 2019.
McWatters was nominated this January to succeed Michael Fryzel on the board. He testified on his nomination this March before the Senate Banking Committee. During the hearing, McWatters told the panel he intended to look closely at NCUA’s risk-based capital proposal – “the devil is in the details,” he said. He also said he saw opportunities for low-income credit unions to do more to meet the needs of underserved consumers.
Only two of NCUA's three board members may be from the same political party. McWatters is a Republican. Democrats Debbie Matz, the board's chairman, and Rick Metsger, a member of the board, have terms that will continue through Aug. 2, 2015, and Aug. 2, 2017, respectively.
McWatters, once sworn in, could participate in his first NCUA Board meeting next month. The board is scheduled to meet in open session July 31.