Rick Metsger, the former state senator from Oregon who once served on a credit union board, was confirmed late Thursday by the full U.S. Senate to a seat on the NCUA Board.
The only step left before he fills the third seat on the regulator's board of directors, which has been empty since Gigi Hyland resigned last October, is his swearing in.
“Rick Metsger's confirmation to the NCUA Board is a positive development for credit unions and their nearly 95 million members,” NCUA Chairman Debbie Matz said in a statement.
“His personal commitment to public service, his breadth of policymaking experience and his unique perspective on financial services issues are welcome additions to the NCUA Board. I welcome Rick to the NCUA board and look forward to working with him,” Matz said.
President Barack Obama nominated Metsger on May 15 and he was approved by the Senate Banking Committee on July 18 following an uneventful hearing June 27.
“The National Credit Union Association (sic) plays an important role in promoting the strength and success of the credit union industry, and Richard Metsger will no doubt be a valuable member of the board. Mr. Metsger is well-qualified for the role, and I look forward to working with him and the rest of the NCUA Board,” Senate Banking Committee Chairman Tim Johnson said Thursday in a release.
The Senate also confirmed Jason Furman to be a member and chairman of the Council of Economic Advisers, Mary Jo White to a full term on the Securities and Exchange Commission and Kara Stein and Michael Piwowar, also members of the Securities and Exchange Commission. With the exception of White, the others sat on the same Senate hearing panel with Metsger.
However Rep. Mel Watt (D-N.C.), who was also part of that hearing and is nominated to head the Federal Housing Finance Agency, did not receive a Senate confirmation vote Thursday with the others.
“We look forward to working with Mr. Metsger as he starts his tenure on the board, knowing that he can rely on his experience as a credit union board member in dealing with the challenges that credit unions face today,” said CUNA President/CEO Bill Cheney.
NAFCU President/CEO Dan Berger released a statement saying, “NAFCU congratulates Mr. Metsger on his confirmation to the NCUA Board, and we look forward to working with him, the NCUA Board and staff to ensure a positive regulatory environment for credit unions.”
Matz and Metsger are Democrats. Board Member Michael Fryzel is a Republican.
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