ALEXANDRIA, Va.–NCUA will officially begin operating with a two-person board today.
The departure of former chairman Debbie Matz leaves the board with Vice Chairman Rick Metsger, a Democratic appointee, and board member Mark McWatters, a Republican appointee.
While that could create a scenario in which there would be 1-1 ties on issues before the board, it’s expected no issue will come before the board for a vote unless it is expected to pass.
Matz’s departure does not automatically elevate Metsger to the chairmanship. According to NCUA, “The agency will continue to conduct business-as-usual. NCUA is governed by its board, and the vice chairman is authorized to perform certain limited duties in the absence of the chairman. The selection of a new chairman is solely at the discretion of the White House.”
Given the current political climate and the fact elections are under way, it’s unlikely anyone will be nominated (and then be approved) by Congress. McWatters is currently a nominee for a seat on the board of the U.S. Export Import Bank, but that nomination is not expected to move forward anytime soon, either.