President Donald Trump has removed “acting” from J. Mark McWatters title, naming him the 10th chairman of the NCUA board. McWatters has served as acting board chairman since Jan. 23.
“We congratulate J. Mark McWatters on being named the 10th NCUA Chairman, and we look forward to continuing our work with him and board member Rick Metsger to achieve regulatory relief that allows credit unions to better serve their members,” said Jim Nussle, CUNA President/CEO. “CUNA, leagues and credit unions anticipate working closely with NCUA on improving the efficiency of the agency while ensuring the credit union system remains healthy and strong.”
McWatters was nominated to the board by then-President Barack Obama on Jan. 7, 2014. Following Senate confirmation, he took office as an NCUA board member on Aug. 26, 2014.
Prior to joining NCUA’s board, McWatters served as Assistant Dean for Graduate Programs and as a Professor of Practice at the Southern Methodist University Dedman School of Law and as Adjunct Professor at the university’s Cox School of Business. He also served on the governing board of the Texas Department of Housing and Community Affairs and on the advisory committee of the Texas Emerging Technology Fund.
“I thank President Trump for this honor and the trust he has placed in me,” McWatters said. “As chairman of the NCUA, I remain committed to providing regulatory relief for the credit union community, in compliance with the Federal Credit Union Act, and to streamlining the operations of NCUA as a prudential regulator.”