WASHINGTON – The nomination of Richard Metsger to become a member of the NCUA board is scheduled to be voted on July 16 by the Senate Banking Committee. The panel will meet in executive session at 10 a.m. EST.
The former Oregon State Sen. Rick Metsger (D) was named as a candidate by the president in June and a hearing on his nomination was conducted on June 27. At that hearing Metsger said, "updating, simplifying, eliminating and clarifying existing rules to ensure that they are effective, but not excessive, consistent with safety and soundness" will be a focus if he is confirmed to serve the agency.
If the Senate Banking Committee approves his nomination and it is next confirmed by the U.S. Senate, Metsger will fill the seat vacated late last year after the term of board member Gigi Hyland expired.
Metsger served as Oregon state senator from 1999 to 2011, where he chaired the Oregon Senate committee that heard all financial institution legislation. He was a member of the board of directors at Portland Teachers CU from 1993 to 2001 and has also been a board member of Financial Beginnings, a nonprofit focused on increasing students' financial literacy.
"If confirmed, I will add a fresh set of eyes to policies old and new to reflect that diversity [of experience]," Metsger pledged during the nomination hearing.
Also on Senate Banking's July 16 is consideration of the nominations of Rep. Melvin L. Watt (D-N.C.) to be director of the Federal Housing Finance Agency; Dr. Jason Furman, of New York, to be a member and chairman of the Council of Economic Advisers; Kara M. Stein of Maryland, to be a member of the Securities and Exchange Commission; and Dr. Michael S. Piwowar of Virginia, to be a member of the Securities and Exchange Commission.