President Donald J. Trump has designated National Credit Union Administration board member J. Mark McWatters as the acting chairman of the NCUA Board. McWatters succeeds Rick Metsger, who was designated board chairman in May 2016. Metsger continues to serve as an NCUA board member.

“I am deeply honored that President Trump has asked me to serve as acting chairman of NCUA,” McWatters said. “I look forward to continuing to work with board member Metsger to facilitate the ability of credit unions to better serve their members. I remain committed to bringing true regulatory relief to the extent permitted by applicable law and to protecting the deposits of the more than 106 million Americans who rely on federally insured credit unions for their financial needs, all in a manner that ensures the safety and soundness of the National Credit Union Share Insurance Fund.”

McWatters was nominated to the NCUA 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.