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News Now

Washington
Fryzel among delayed nominees
WASHINGTON (2/11/08)—Michael Fryzel, President George W. Bush’s pick to be the next chairman of the National Credit Union Administration (NCUA), was named among the nominees for whom the President urged prompt action from the Senate. Last week Bush called on the Senate to start immediate work on its confirmation process for a long list of pending nominations, including Fryzel and three nominees to the Federal Reserve Board. Bush said in his statement that of 180 nominees awaiting “a fair vote in the Senate,” 30 have been waiting more than a year for action, about half have been waiting 100 days or longer, and nine have been waiting more than two years. Fryzel is a relative newcomer to the list. Bush nominated him in December to replace current NCUA Chairman JoAnn Johnson, whose term expired in August. Johnson has indicated she will likely remain as chairman until her successor makes it through the confirmation process. Fryzel was with the Illinois Department of Financial Institutions from 1977 to 1989 and headed the agency from 1982 to 1989. Integral to that job, according to his resume, was the licensing and regulation of more than 700 state-chartered credit unions with assets exceeding $4.3 billion. Regarding the pending Fed nominations, three of the seven members of the Federal Reserve Board of Governors are awaiting Senate confirmation. The President's confirmation push came a day after Senate Majority Leader Harry Reid (D-Nev.) said the administration was stonewalling the appointments process, according to American Banker (Feb. 8). The White House had been criticized by Democrats for not discussing nominations with them in advance.
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