ALEXANDRIA, Va. – Just hours after President Barack Obama announced his intent to nominate NCUA Board Member J. Mark McWatters to the Board of the Export–Import Bank of the United States, McWatters said he remains focused on his work with credit unions.
"It is an honor to be nominated by President Obama to serve on the board of directors of the Export–Import Bank," McWatters said in a statement. "If confirmed by the U.S. Senate, I look forward to working with Chairman Hochberg and Vice Chair Felton. Until that time, I will continue to work on the critical regulatory issues and policies facing the credit union system as a member of the NCUA board."
McWatters first must be confirmed by the Senate for the position with the Export-Import Bank.
Monday's announcement doubtless came as a surprise to many, as Debbie Matz, NCUA's board chairman, has seen her term expire and is serving as a holdover until President Obama nominates her successor. Of McWatters' new nomination, Matz told Credit Union Journal, "I wish him well."
McWatters was nominated by President Obama to serve on the NCUA Board on Jan. 7, 2014. Following confirmation by the U.S. Senate on June 19, 2014, he took office as an NCUA board member on Aug. 26, 2014.
McWatters has been very popular in credit union circles for speaking up about a number of issues he saw with the manner in which the agency works. Dan Berger, president and CEO of NAFCU, released a statement Monday saying, "We congratulate NCUA Board Member J. Mark McWatters on his nomination to the board of directors of the Export-Import Bank. We thank him for his continuing service to credit unions and wish him well upon his confirmation."
The Export-Import Bank has seen its own share of controversy in recent months, including efforts by Congressional Republicans to eliminate the entity.
McWatters previously served as the Assistant Dean for Graduate Programs and as a Professor of Practice at the Southern Methodist University Dedman School of Law and as an Adjunct Professor at the Southern Methodist University Cox School of Business. He previously served as a member of the Troubled Asset Relief Program Congressional Oversight Panel. He also served on the Governing Board of the Texas Department of Housing and Community Affairs and the Advisory Committee of the Texas Emerging Technology Fund.
McWatters has more than 30 years of legal experience as a tax, corporate finance and mergers and acquisitions attorney. He is also licensed as a Certified Public Accountant.
