Consumer Protection and Other Regulatory Priorities - Michael E. Fryzel, Chairman of the NCUA

Michael E. Fryzel, Chairman of the National Credit Union Administration (NCUA), has proposed a new Consumer Protection Office within the credit union regulatory agency. In an exclusive interview, Fryzel discusses: Details of his proposed Consumer Protection Office; Timeline for discussion and possible adoption of this proposal; Top regulatory and information security issues facing credit unions for the remainder of 2009. Fryzel was sworn into office as Chairman of the NCUA on July 29, 2008. President George W. Bush nominated Mr. Fryzel to the NCUA Board on November 30, 2007, and his nomination was confirmed by the U.S. Senate June 26, 2008. The NCUA Board consists of three members appointed by the President and confirmed by the Senate to regulate all federally-chartered credit unions and administer the federal fund insuring member accounts in approximately 8,000 credit unions nationwide. Prior to his NCUA service, Fryzel was an attorney in private practice specializing in financial, regulatory and real estate law. In that capacity, he represented credit unions and other financial service industries as well as various trade organizations. Fryzel also served as DUI Prosecutor for the Illinois Secretary of State and Hearing Officer for the Motor Vehicle Review Board.