WASHINGTON – Chances of the Senate confirming a successor to NCUA Chairman JoAnn Johnson are dwindling as the nomination of Michael Fryzel continues to languish before the Senate Banking Committee, four months after it was sent there by President Bush.
The name of the former state banking and credit union regulator in Illinois is one of 200 nominations by President Bush being held by Democratic Senate leaders, who hope the next president will be a Democrat who will appoint Democrats to the federal positions, such as the NCUA Board. Capitol Hill sources told The Credit Union Journal the chances of the NCUA nomination and the others get confirmed by the Senate will continue to dwindle as the election grows nearer.
In addition, the Senate Banking Committee has yet to receive all of the requested paperwork on Fryzel, the sources said.
Johnson’s six-year term on the three-member NCUA Board expired last August and she has been serving as a so-called holdover since then.
Fryzel, a partner in the Chicago firm of Kane, Obbish, Propes & Garippo, was promoted to the head of the Illinois DFI, which regulates state chartered credit unions, in 1982 – succeeding Ed Callahan when Callahan went to Washington to chair the NCUA Board.
Fryzel has been deeply involved in credit unions since leaving the DFI, serving on the Illinois Credit Union Advisory Board for the last 17 years and representing numerous credit unions in his legal practice.
Fryzel also was in the running for the NCUA Board seat eventually given to Rodney Hood almost four years ago.
