WASHINGTON — President Barack Obama announced last week that he intends to nominate Mark McWatters to fill the third seat on the NCUA board.
If confirmed, McWatters would succeed Republican Michael Fryzel, whose six-year term on the NCUA board expired Aug. 2. McWatters would join Chairman Debbie Matz and Richard Metsger, both Democrats.
McWatters is currently the assistant dean for graduate programs and an adjunct professor at the Southern Methodist University Dedman School of Law. From May 2009 to December 2009, McWatters served as counsel to U.S. Representative Jeb Hensarling (R-TX), now chairman of the House Financial Services Committee.
From 2007 to 2009, McWatters was tax and mergers and acquisition counsel for HBK Capital Management. From 2004 to 2007, he was a partner at Patton Boggs, and from 1990 to 2001, he was a partner at Fulbright & Jaworski (now Norton Rose Fulbright).
Since 2012, McWatters has served as a member of the Governing Board of the Texas Department of Housing and Community Affairs and as a member of the Advisory Committee of the Texas Emerging Technology Fund. From 2009 to 2011, McWatters was a member of the TARP Congressional Oversight Panel.
McWatters has also served as an adjunct professor at the SMU Cox School of Business since 2009.
In an exclusive interview with Credit Union Journal, NCUA Chairman Debbie Matz said she is ready to work with McWatters if he is confirmed to the post.
"I don't know him. But I do know that he has very distinguished background," Matz said. "And, if he is confirmed, I will welcome him onto the board and would look forward to working with him."
Meanwhile, NAFCU president Dan Berger said he called McWatters to congratulate him after learning of the nomination.
"NAFCU commends McWatters on his selection by President Obama for the NCUA board," Berger said in a statement. "We stand ready to work with McWatters should he be confirmed. We also look forward to continuing our work with the NCUA to ensure a positive regulatory environment for credit unions."
