WASHINGTON-The White House last week sent the nominating papers for NCUA Board candidate Deborah Matz to the Senate Banking Committee for its required review.
Matz, a Democrat who served on the NCUA Board from 2001 to 2005, is expected to be endorsed by the panel and confirmed by the Senate as she was nominated the first time by Republican George W. Bush.
Meantime, the move from the Chairman's office at NCUA would not only be a fall in prestige for Michael Fryzel, if nominee Matz is confirmed, but would be costly as well.
That's because Fryzel would see his annual salary fall from $162,900 to the $153,200 earned by the other two NCUA Board members.
President Obama has nominated Matz for the NCUA Board seat now held by Republican Rodney Hood, whose six-year term expired last month, and would designate her the chairman of the Board. If confirmed it would give Democrats the majority on the three-member panel.
