By unanimous consent with no vote, the Senate today confirmed Deborah Matz as chairman of the NCUA.
Matz, who was appointed by President in May, will take office at a time of enormous challenges to the credit union movement.
These include the effects of the recession on natural person and corporate credit unions, which has put a strain on the NCUSIF. In addition, the agency is working on its plan for revamping the structure of the corporate credit union system. Also, the industry is shrinking as a result of the mergers of some credit unions and the failure of others.
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