In a surprise move over the weekend, the President put forth the name of long-time credit union advocate Wendell "Bucky" Sebastian for nomination to the NCUA Board. Sebastian's nomination comes on the heels of the recent withdrawal by Carla Decker from the nomination process.
Sebastian is the current head of the National Credit Union Foundation and has previously served as CEO of GTE Federal Credit Union in Tampa and as the chief legal counsel for the NCUA in the early 1980's under Ed Callahan.
In announcing the nomination, the President noted that Sebastian's youthfulness had prevented current consideration for a Supreme Court slot; but that Sebastian would bring a conservative, measured, low-key consultative approach to the make-up of the three member Board. "Bucky Sebastian will help restore balance in an "unbalanced" Agency and as one of my fellow Chicagoans he certainly knows how - and where - "to grab" the Agency to get their attention."Ms. Deborah Matz, current Chair of the NCUA Board commented: "Well, I did say last week that I would support whomever the President nominated, but...."
Long-term supporters of Mr. Sebastian, however, commented that they did not believe that he would survive the nomination process. "It's not his intellect, skill-set, politics, or experience - Bucky Sebastian is most imminently qualified. The problem comes with the fact that the nomination process will take several months, during which the nominee must remain silent.
Anyone who knows Bucky Sebastian knows that a "vow of silence" just ain't in his make-up...... I'd give him about a week.... at most!"
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