ALEXANDRIA, Va. — Although NCUA Chairman Michael E. Fryzel's term on the board runs through 2013, his tenure as chairman could end sooner.
Presidents have the power to designate the chairs of regulatory agency boards and President-elect Barack Obama could choose to place a Democrat as chair of NCUA instead of Fryzel, who was appointed by President Bush and has been in the position since July.
Obama will have an opportunity to appoint a new board member soon after taking office. Vice Chairman Rodney Hood's term expires on April 10. Obama could designate Hood's successor as chairman or name Board Member Gigi Hyland to the post.
Hyland, the panel's sole Democrat and only board member with credit union experience, was named to the board by Bush and has served since November, 2005. Her term expires Aug. 2, 2011.
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