A new post for McWatters?
This story was updated at 1:18 P.M. on Dec. 29, 2017
Credit union consultant and former NCUA Chairman Dennis Dollar.
Ryan Donovan, chief advocacy officer at the Credit Union National Association
Paul Stull, president and CEO of the Credit Union Association of New Mexico
Carrie Hunt, EVP of government affairs and general counsel at the National Association of Federally-Insured Credit Unions
Caroline Willard, president and CEO, Cornerstone Credit Union League
Marvin Umholtz, president and CEO of Umholtz Strategic Planning & Consulting Services
He has demonstrated during his time at the NCUA as a member, and as the NCUA Board Chairman, that he respects the institutions the agency supervises. McWatters also demonstrated that government could (and should) act as openly and transparently as the law allows, yet he did so within the context of constantly ensuring safety and soundness protections for the Americans who borrowed and saved at the credit unions that the agency supervised. McWatters has also repeatedly articulated the need to ensure that American taxpayers were also being well served.
Should he get the nod to take over the CFPB, I suspect that J. Mark McWatters would also follow his obvious conservative instincts to appropriately tailor the out-sized regulatory burdens currently put in place by the former CFPB's counter-productive leadership.
Whether President Donald J. Trump selects J. Mark McWatters – or any of the other excellent choices reportedly on the short list for the CFPB director slot – credit union officials and community bankers will most assuredly applaud the pro-markets, pro-prosperity, pro-consumer choice changes that all of the potential nominees would make.
My enthusiasm for reforming the CFPB has never been higher! If he becomes the CFPB director, the NCUA board's loss of Chairman McWatters, would be mitigated by the ultimate gain for the entire financial services industry.