WASHINGTON The Senate Banking Committee this morning voted to endorse former Oregon Senator Richard Metsger for the NCUA Board and sent the nomination on for a vote by the full Senate.
Metsger would fill a vacancy on the three-member NCUA Board, just as a second vanancy is scheduled to come up August 2 with the expiration of Michael Fryzel’s six-year term.
The Senate panel also voted its endorsement of Rep. Mel Watt, D-N.C., to head the Federal Housing Finance Agency, the regulator for Fannie Mae and Freddie Mac, and Jason Furman to head the President’s Council of Economic Advisers, as well as Michael Piwowar and Kara Stein to be members of the Securities and Exchange Committee.
Despite the impending second vacancy on the NCUA Board it is not clear whether the Senate will vote the Metsger nomination before its August recess. Some observers suggest the Senate might wait to pare a Republican nomination to the NCUA Board along with the Democrat Metsger. Still, Metsger’s nomination is considered non-controversial and is widely expected to be confirmed by the full Senate, possibly before the August recess.
