WASHINGTON — The Johnson era at NCUA has ended and the Fryzel era has begun.

The handover took place last Tuesday when former Illinois financial services regulator Michael E. Fryzel was sworn in as chairman of the NCUA Board.

Fryzel, who succeeds JoAnn Johnson on the three-member panel, took the oath in Chicago, sworn in by Cook County Circuit Judge Lee Preston, a longtime friend.

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