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During McWatters’ tenure as chairman, the NCUA Board approved rules providing greater transparency and accountability to credit union members during voluntary mergers, providing better due process for credit unions appealing supervisory decisions, and improving the appeals process for agency program
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McWatters was a tax and corporate counsel at HBK Capital
Management LP. He was a partner at Patton Boggs LLP and Fulbright & Jaworski LLP, a partner and associate at Hughes & Luce LLP, and an associate with McGinnis, Lochridge & Kilgore LLP. He served as a judicial clerk for Judge Walter
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reported in
January 2019 that McWatters and his chief of staff spent more than $ 2,500 on alcohol in 2016 and 2017, most of it under the chief of staff's expenses account. There is a written policy in place that prohibits federal government workers from using expense accounts for alcohol purchases.
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Given the overall success of the
Corporate System Resolution Program, the NCUA's legal recoveries, and improvements in the value of the legacy assets, McWatters proposed in 2016 the agency close the Stabilization Fund four years ahead of its scheduled expiration in 2021. The NCUA Board voted
480:, "From the beginning of his tenure, McWatters spent money in the style of a corporate executive, including the use of hired limousines and the purchase of nearly $ 22,000 worth of furniture for a headquarters office he rarely used."
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McWatters works remotely from Dallas. The NCUA is located
Alexandria, Virginia. Government watchdog groups have described it as highly unusual for an agency chief to work routinely from home. Asked by
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On May 14, 2018, the
Inspector General of the NCUA published an investigative report in response to whistleblower allegations of extravagant travel and entertainment expenses claimed by McWatters.
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424:, who had been designated board chairman by President Obama in May 2016. As chairman, McWatters earns $ 165,300. As NCUA Board Chairman, McWatters served as a voting member of the
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unanimously at its
September 2017 open meeting to close the Stabilization Fund and to merge its remaining assets and obligations into the Share Insurance Fund, as required by the
678:"Closing the Temporary Corporate Credit Union Stabilization Fund and Setting the Share Insurance Fund Normal Operating Level." Federal Register Notice. October 4, 2017.
73:. Although not required, you are encouraged to explain why you object to the deletion, either in your edit summary or on the talk page. If this template is removed,
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President Trump designated J. Mark McWatters as Acting
Chairman of the NCUA Board on January 26, 2017, and then as chairman on June 23, 2017. McWatters succeeded
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on
January 7, 2014. Following Senate confirmation, he took office as an NCUA board member on August 26, 2014. He succeeded former chairman and NCUA Board Member
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892:"McWatters Takes Oath Joins NCUa Board" (Press release). Alexandria, Virginia: National Credit Union Administration. August 26, 2014. Retrieved 2017-07-13
390:. He was on the Governing Board of the Texas Department of Housing and Community Affairs and the Advisory Committee of the Texas Emerging Technology Fund.
529:"McWatters Takes Oath, Joins NCUA Board"(press release).Alexandria, Virginia: National Credit Union Administration. August 26, 2014. Retrieved 2017-07-13
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McWatters was previously designated by
President Trump in January 2017 to serve as Acting Chairman of the NCUA. In January 2014, President
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If you created the article, please don't be offended. Instead, consider improving the article so that it is acceptable according to the
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444:. This action resulted in a distribution of $ 736 million to eligible federally insured credit unions in the third quarter of 2018.
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on June 23, 2017, to serve as the tenth board chairman of the NCUA, and resigned from the NCUA Board on
November 20, 2020.
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McWatters frequently dined in lavish restaurants with industry officials and lobbyists at taxpayer expense. According to
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The article may be deleted if this message remains in place for seven days, i.e., after 03:12, 26 September 2024 (UTC).
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McWatters advocated for regulatory change that would expand how credit unions define their fields of membership.
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549:"McWatters Talks FOM, Including Online Communities, In WSJ Interview." Credit Union Today. October 23, 2017.
880:"White House Nominates Republican to Export-Import Bank Board. The Wall Street Journal". January 11, 2016
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McWatters was nominated to the NCUA Board as the Republican member of the three-member board by President
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689:"Why not everyone is happy with NCUA's $ 736 million payout." Credit Union Journal. February 15, 2018.
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Expired+%5B%5BWP%3APROD%7CPROD%5D%5D%2C+concern+was%3A+information+is+outdated+and+no+longer+relevant.
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You may remove this message if you improve the article or otherwise object to deletion for any reason
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847:"Trump removes 'acting' from NCUA Chairman McWatters' title". Credit Union Journal. June 27, 2017
582:"Trump removes 'acting' from NCUA Chairman McWatters' title." Credit Union Journal. June 27, 2017
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711:'Obama to Nominate Mark McWatters to NCUA Board' title." Credit Union Times. December 18, 2013
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868:"Senate Approves McWatters to NCUA Board of Directors". Credit Union Journal. June 19, 2014.
560:" Senate Approves McWatters to NCUA Board of Directors." Credit Union Journal. June 19, 2014
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McWatters was the Assistant Dean for Graduate Programs and as a professor of Practice at the
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862:"Obama to Nominate Mark McWatters to NCUA Board". Credit Union Times. December 18, 2013
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874:"McWatters Takes Oath as New NCUA Board Member". Credit Union Times. August 26, 2014
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571:"McWatters Takes Oath as New NCUA Board member." Credit Union Times. August 26, 2014
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about this practice, an NCUA spokesperson said it had no impact on NCUA operations.
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nominated McWatters as the Republican member of the three-member board of the NCUA.
886:"Shelby: No Plans to Move McWatters to Ex-Im". Credit Union Times. March 15, 2016
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910:"A $ 450 dinner, $ 45 whiskey: Political appointee, aide ring up the expenses"
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752:"More Resignations Announced as NCUA Officials Silent on Ousting of McWatters"
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McWatters received a B.B.A. from Texas Christian University, an M.B.A. from
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A $ 450 dinner, $ 45 whisky: Political appointee, aide ring up the expenses
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Ely of the United States Ninth Circuit Court of Appeals from 1982 to 1983.
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785:"McWatters Forced Off NCUA Board Following Disagreement With Hood: Source"
611:"This man runs a federal agency near Washington — from his home in Dallas"
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904:"McWatters' TARP Past: NCUA Board". Credit Union Times. January 8, 2014
538:"McWatters' TARP Past: NCUA Board." Credit Union Times. January 8, 2014
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Expired ], concern was: information is outdated and no longer relevant.
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On November 20, 2020, McWatters was forced off the NCUA board.
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and an adjunct professor at the Southern Methodist University
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White House Nominates Republican to Export-Import Bank Board
370:. McWatters is also a Certified Public Accountant in Texas.
513:"President Obama Announces Another Key Administration Post"
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Trump removes ‘acting’ from NCUA Chairman McWatters’ title
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is a lawyer, accountant and former board member of the
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information is outdated and no longer relevant. (
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Senate Approves McWatters to NCUA Board of Directors
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864:Obama to Nominate Mark McWatters to NCUA Board
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876:McWatters Takes Oath as New NCUA Board Member
260:January 23, 2017 – November 20, 2020
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519:. January 11, 2016.
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