WASHINGTON – Senate leaders are preparing to vote confirmation of NCUA Board nominee Michael Fryzel as soon as the end of the week, after Fryzel and nine other Bush nominations are endorsed by the Senate Banking Committee, as expected on Wednesday.
The vote by the full Senate on the Republican Fryzel is part of a deal to get votes on two Democratic nominees to the Securities and Exchange Commission, several sources indicated to The Credit Union Journal yesterday.
The deal to vote Fryzel comes even as Democratic leaders of the Senate are holding up other Bush nominations in the waning days of the administration, while they prepare for what they hope is a Democratic administration that will fill federal government positions come January..
Fryzel, a protégé of ex-NCUA Chairman Ed Callahan and former director of the Illinois Department of Financial Institutions, has been nominated to be the chairman of the NCUA Board. He would succeed current Chairman JoAnn Johnson, whose six-year term on the three-person panel expired last August.
Fryzel has one of the longest resumes of any NCUA nominee, having served for 17 years on the state’s CU Advisory Board and represented hundreds of credit unions in his private law practice, after serving as state credit union and bank regulator.
