WASHINGTON — The Senate Banking Committee is scheduled to vote Wednesday on the nomination of Michael E. Fryzel for the chairmanship of the National Credit Union Administration board.
No lawmaker has expressed opposition to his nomination and congressional sources said they expect the vote to go on without a hitch.
Fryzel, a former director of the Illinois Department of Financial Institutions, would serve on the board through 2013 though each president gets to choose his or her own chairman. He would succeed Chairman JoAnn Johnson, whose term expired last year but stayed on at the request of President Bush, pending the confirmation of a new chairman. Fryzel's chairmanship could be short lived as each president has the right to designate their own chairman, though he would remain on the board.
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He received little attention at his confirmation hearing earlier this month (where he appeared with four other nominees to financial-related positions) though Committee Chairman Christopher Dodd (D-Conn.) expressed some concern about some recent trends that have made credit unions more like banks.
Fryzel has had extensive experience dealing with credit unions both while in government and in private practice, since leaving state government in 1989. He has represented numerous state and federal chartered credit unions and was the legal counsel for the Midwest Association of Credit Unions before it merged with the Illinois Credit Union League.
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