Debbie Matz was nominated by President Barack Obama to serve as the eighth board chair of the National Credit Union Administration (NCUA). After confirmation by the U.S. Senate on August 7, 2009, she was sworn in as NCUA Chairman on August 24, 2009.
Mrs. Matz served as an NCUA Board member from January 2002 to October 2005 and is the first NCUA board member to return for a second term. She was nominated for her first term by President George W. Bush.
As NCUA Chairman, Mrs. Matz heads the independent agency overseeing the regulation and supervision of federal credit unions and the National Credit Union Share Insurance Fund (NCUSIF), which protects accounts at more than 6,200 federally insured credit unions serving nearly 100 million members and managing more than $1.1 trillion in assets.
Chairman Matz led NCUA through the worst financial crisis since the Great Depression. She oversaw the reform of the corporate credit union system, raising nearly $30 billion from the sale of NCUA Guaranteed Notes to provide liquidity to the system. She challenged Wall Street firms that sold securities with inflated ratings to corporate credit unions, winning over $1.75 billion in legal settlements so far, with 16 lawsuits still pending.
Chairman Matz also instituted NCUA’s Regulatory Modernization Initiative, updating and streamlining dozens of rules, legal opinions, and policies to remove unnecessary burdens while protecting safety and soundness. During Chairman Matz’s term, credit unions’ performance has improved in all key metrics, from net worth and return on assets to delinquencies and charge-offs.
In addition to chairing the three-member NCUA Board, Mrs. Matz is one of 10 voting members of the Financial Stability Oversight Council (FSOC). FSOC was established by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 to identify risks to the financial stability of the United States, to promote market discipline, and to respond to emerging threats.
Mrs. Matz also serves on the Federal Financial Institutions Examination Council (FFIEC), which she chaired from 2011 to 2013. FFIEC was established by Congress to prescribe uniform principles and standards for the federal examination of financial institutions. Mrs. Matz also represents NCUA on the U.S. Treasury’s Anti-Money Laundering Task Force.
Additionally, Mrs. Matz served two terms on the NeighborWorks America Board of Directors. Established by Congress, NeighborWorks America is one of the country’s preeminent non-profits in providing affordable housing and community development.
Prior to becoming NCUA Chairman, Mrs. Matz served on President Obama’s Economic Transition Team. Previously, she was the Executive Vice-President/Chief Operating Officer of an $800 million federal credit union. Mrs. Matz was appointed by President Bill Clinton to serve in the U.S. Department of Agriculture, where as Deputy Assistant Secretary for Administration, she oversaw the administrative arm of the 100,000-employee agency.
Mrs. Matz worked on Capitol Hill for 12 years in various capacities, including nine years as an economist with the Congressional Joint Economic Committee.
She received a master’s degree from George Washington University and a bachelor’s degree from Cornell University. A native New Yorker, she is married to Marshall Matz, has two grown children and resides in McLean, Virginia.