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LICU Extension, Ohio Community Charter Get NCUA Board Nod: Onsite Coverage

ALEXANDRIA, Va. NCUA Chairman Debbie Matz and Board Member Michael Fryzel approved a million-member FOM and a proposed extension of the LICU designation streamlining offer.

By Heather Anderson | Updated on October 18, 2012
NCUA Staff Attorney Pamela Wu explains a proposed rule to extend the acceptance deadline for low-income designation to Board Member Michael Fryzel and Board Chairman Debbie Matz. The two presidential appointees stuck to an easy agenda, as they are now forced to agree on new rules and actions until a replacement for Gigi Hyland fills the empty third seat.

ALEXANDRIA, Va. — NCUA Chairman Debbie Matz and Board Member Michael Fryzel stuck to a controversy-free agenda Thursday morning during the agency’s October board meeting, approving financial statements and a new community charter and proposing an extension of its August low-income credit union offer from 30 to 90 days.

Because the board’s third seat is empty, following former Board Member Gigi Hyland’s departure Oct. 5, the Democrat Matz and Republican Fryzel are forced to unanimously agree on any proposed rules or actions until a replacement is appointed and confirmed by the Senate.

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