President Donald J. Trump designated Acting National Credit Union Administration Board Chairman J. Mark McWatters as the tenth Chairman of the NCUA Board, effective June 23.

“I thank President Trump for this honor and the trust he has placed in me,” McWatters said in a statement on Tuesday. “As Chairman of the NCUA, I remain committed to providing regulatory relief for the credit union community, in compliance with the Federal Credit Union Act, and to streamlining the operations of NCUA as a prudential regulator.”

According to a statement from the NCUA, McWatters was nominated to the NCUA Board by then-President Barack Obama on Jan. 7, 2014. Following Senate confirmation, he took office as an NCUA Board Member on Aug. 26, 2014. McWatters has served as Acting Board Chairman since Jan. 23.

“I am very pleased that Mr. McWatters has officially been designated as the Chairman of the NCUA by the President,” Board Member Rick Metsger said in a printed statement. “This recognizes his hard work and dedication to the mission of the agency and I look forward to our continued work together to provide access and financial safety to the over 100 million Americans who are part of the nation’s credit union system.”

 

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