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Washington
NEW Senate confirms Fryzel for NCUA board
Click to view larger image NCUA Board nominee Michael Fryzel before his June 3 Senate Banking Committee hearing on Capitol Hill. (Photo provided by CUNA)
WASHINGTON (6/27/08, UPDATED 1:45 p.m. ET)--The U.S. Senate today confirmed Michael Fryzel to replace JoAnn Johnson on the NCUA board. President George W. Bush said he would name Fryzel chairman of the three-seat board. CUNA President/CEO Dan Mica congratulated Fryzel after the Senate vote. “With his background in credit union law and regulation, he has a number of tools to draw upon during his tenure with the agency,” said Mica. “We look forward to working with him to keep credit unions safe, strong and essential to their members.” Fryzel was with the Illinois Department of Financial Institutions from 1977 to 1989 and headed the agency from 1982 to 1989. Upon leaving that position, Fryzel founded his private law practice, the Law Offices of Michael Fryzel, which specializes in financial regulatory and real estate law. At his nomination hearing before the committee early this month, Fryzel said his priority as a federal regulator would be oversight of the safety and soundness of credit unions. He said consumers not only place their money in credit unions, they also place their trust.


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