WASHINGTON — With little fanfare, the Senate today confirmed Michael E. Fryzel to a seat on the NCUA board.
Fryzel, a former director of the Illinois Department of Financial Institutions, will serve on the board through 2013. He will succeed Chairman JoAnn Johnson, whose term expired last year.
The Bush administration has said it will designate Fryzel as the board's chairman but his tenure in that post could be short lived as each president has the right to designate their own chairman, though he would remain on the board regardless.
“I am deeply honored by my U.S. Senate confirmation. In preparing to assume office, I want to reiterate the priorities stated during my recent Senate Banking hearing: vigilant and thorough supervision, emphasis on safety and soundness, and dedication to protecting the consumer,” Fryzel said in a statement. The credit union industry, now entering its second century, has proven itself valuable to America's consumers and as such has a right to expect fair, consistent, common-sense regulation. It is my commitment to conduct my chairmanship in that manner.”
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.
No date has been set for his swearing in. He was first nominated to the post by President Bush last Nov. 30.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
