ALEXANDRIA, Va. – The six-year term of NCUA Chairman Debbie Matz technically ends today—but Matz won’t be departing anytime soon.
Matz was sworn into office on Aug. 24, 2009, replacing then Chairman Michael Fryzel, who is now in private practice and a frequent contributor to CUToday.info’s “The ’Tude.” Matz holds the distinction of being the first person to ever serve two terms on the NCUA board, having previously served on the board from 2002-05.
While her term is up, a replacement would need to be nominated by President Obama and then confirmed by the Senate, which is controlled by the opposing party. Due to that partisanship in Washington, NCUA board members frequently serve past the end of their terms.
Matz issued a statement to CUToday.info that "I am happy to continue my service at the pleasure of the President."