Michael E. Fryzel, former Illinois state regulator, will appear before the Senate Banking, Housing and Urban Affairs Committee for a confirmation hearing of his nomination to the National Credit Union Administration (NCUA) Board on June 3.
Fryzel, former director of the Illinois Department of Financial Institutions, will be designated NCUA Chairman upon confirmation. He will follow JoAnn Johnson, whose term expired in August 2007. Fryzel has a law practice in Chicago, Illinois and serves on the Illinois Governor’s Board of Credit Union Advisors. Fryzel was nominated to the NCUA Board by President Bush in early December 2007.
NASCUS has long supported state regulatory representation on the NCUA Board. Comprehensive experience in regulating state-chartered credit unions provides an added benefit when overseeing and protecting the safety and soundness of the National Credit Union Share Insurance Fund, the insurer of the majority of state-chartered credit unions.
“NASCUS will be pleased to have a former state regulator serve on the NCUA Board, explained NASCUS President and CEO Mary Martha Fortney. “State regulatory experience compliments the expertise of the NCUA Board and its deliberative process when determining policy that affects state-chartered, federally insured credit unions. We look forward to working with Mr. Fryzel, upon his confirmation by the Senate.”
NASCUS will provide updates as the confirmation process continues.
NASCUS will provide updates as the confirmation process continues
|
