Passing the torch

Mark McWatters will soon become the newest member of the NCUA Board, having been confirmed by the United States Senate. Having had the opportunity to meet and talk to Mark, I am confident that he will be an outstanding Board Member.

Mark has the academic credentials needed to understand the complex financial decisions credit unions face today. He also has the ability to analyze what a good regulator needs to do to ensure the safety and soundness of credit unions, maintain a strong Share Insurance Fund, and not over-regulate to the point of stifling growth in a highly competitive financial services industry. As an attorney, he will be able to understand the legal significance of Board actions, and as a CPA, he will be able to decipher the impact those regulations will have on performance and stability. The combination of those unique credentials will enable him to hit the ground running.

It is also important that an NCUA Board Member understand how Washington, D.C., and the federal government work or do not work; how a federal agency can advance needed regulation or create an atmosphere of ineffectiveness; and how a Board Member can sit idle or present another side to a pending issue.

Mark has the D.C. experience needed to succeed. Having worked with Congress and the TARP Congressional Oversight Panel, he knows the process as well as the people. That will be of immense benefit to him and NCUA. In addition, his academic background will enable him to evaluate, understand, direct and form his own opinion on what he believes is the best path for credit unions across the country.

I expect Mark to be an involved and knowledgeable Board Member. I expect him to do an outstanding job while at NCUA. I expect him to do what I ask everyone to do—the best he possibly can. I am confident he will.

Mark, I wish you all the best in your new position. It is an honor to be an NCUA Board Member—a role you are eminently qualified to fill.

Michael Fryzel

Michael Fryzel

Michael Fryzel is the former Chairman of the National Credit Union Administration and is now a financial services consultant and government affairs attorney in Chicago. He can be reached at ... Details