Senate Clears McWatters for NCUA Board Posted by AVCU on 10:10 AM

On Thursday this week the U.S. Senate confirmed J. Mark McWatters to join Debbie Matz and Rick Metsger on the three-person board of the National Credit Union Administration. McWatters replaces Republican Michael Fryzel, whose 2008 appointment ended on 8/2/13 but continued to serve until confirmation of his successor, who fills a term that ends in August 2019.
 
Previously, McWatters served as a member of the Troubled Asset Relief Program (TARP) Congressional Oversight Panel, and prior to that he practiced for more than 25 years as a domestic and cross-border tax, corporate finance and mergers and acquisitions attorney. McWatters received his J.D. degree from the University of Texas School of Law, a master of laws degree from Columbia University School of Law and a master of laws degree in taxation from New York University School of Law.

Members of the NCUA board are appointed by the U.S. president and confirmed by the Senate. No more than two board members can be from the same political party, and each member serves a staggered six-year term.