Michael e fryzel biography
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These were new temporary initiatives for CLF extensions of credit to credit unions made to meet system liquidity needs.
Internally, Fryzel overhauled the agency’s supervision of credit unions with a new hiring and training program for examiner staff. From there, I was reappointed 3 times based on a 5-year plan that set the foundation for DFI’s consistent achievement of revenue, compliance, and growth targets.►SUCCESS HIGHLIGHTS◄✔ As agency Director, coordinated a major operation to take possession and control of 50+ Chicago-area check cashing operations with $250M+ in assets and reopen doors in 24 hours and realized record year over year growth by millions for the Unclaimed Property Division.✔ As Administrator for Unclaimed Property Division, increased division efficiency 50%, filed and won landmark lawsuit against Chicago Title and Trust Company that resulted in $100s of millions to the State of Illinois, and prompted highest payment of claims since the inception of the Unclaimed Property Act.
✔ As Supervisor/Assistant Supervisor of Currency Exchange Division, offset annual operating losses by overturning decades-long stagnation in exam and business fees for 1,150+ check cashing operators and redeemed DFI’s faltering reputation within the check cashing industry in 90 days by reinforcing bonds with the Community Currency Exchange Association and drafting legislation that was passed by the General Assembly to improve check cashing services.
Education
Loyola University Chicago School of Law
Juris DoctorUniversity of Chicago
Master of Business Administration (MBA) Executive ProgramValparaiso University
Bachelor of Science in Business Administration
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Claim this profileIf an account exists for [email protected], a secure sign-in link has been sent. ►SUCCESS HIGHLIGHTS◄✔ Built and grew successful law practice for Illinois financial services businesses on pivotal cases involving financial law.✔ Armed financial institutions and small businesses with expert advice to navigate regulatory arena and develop plans for business growth.✔ Paved the way for Midwest Association of Credit Unions’ (MACU’s) survival by urging the merger and leading negotiations with the Illinois Credit Union League (ICUL).Later retained by ICUL to solve numerous legal and government regulatory issues ✔ llinois Governor’s Board Credit Union Advisors for 16 years—longest tenure in board history.✔Protected check cashing businesses against business fraud and unfair competition by standardizing industry contracts and documentation; prevented $10s of thousands in losses for a banking client during a pivotal case; and repositioned several money transmitters for long-term profitability with standard reporting and procedures.✔ As a member of the Illinois and District of Columbia bar associations, functioned as Commissioner of the Illinois Court of Claims for 4 years and served on Illinois Governor’s Task Force on Financial Services and Governor’s Financial Institution Transition Team.
Member Illinois Governor's Board Credit Union Advisors, 1992—2008, Illinois Governor's Task Force on Finance Services, Illinois Governor's Finance Institution Transition Team.
Hearing officer Motor Vehicle Review Board, Illinois.
Achievements
Michael E. Fryzel has been listed as a reputable lawyer by Martindale-Hubbell.
Connections
Married Gloria Fryzel.
► SUCCESS HIGHLIGHTS ◄✔ Saved credit union sector from single most disastrous economic crisis since The Great Depression by charting and navigating legislative changes during most pivotal year.✔Triggered recovery of billions via strategically filed lawsuits & investments of securities, prompting assessment rebates to CUs.✔ Proposed to Congress to create the Temporary Corporate Credit Union Stabilization Fund.
The creation of a new, independent agency devoted to consumer financial protection was a major aspect of the regulatory restructuring. We'll send verification link to the email we have on file for you. He was confirmed by the U.S. Senate on June 26, 2008, and took the oath of office as NCUA Chairman on July 29, 2008. ✔Addressed the severe liquidity challenges by requesting and receiving from Congress authority to increase the borrowing authority of the Central Liquidity Facility (CLF) from $1.5B to $41.5B.✔Endorsed the Credit Union Homeowner Affordability Relief Program (CU HARP) and the Credit Union Homeowner System Investment Program (CU SIP) to bring much-needed liquidity from outside the credit union system and ensure that credit unions continued to lend to their members.
On December 9, 2008, Fryzel provided details on the Credit Union Homeowners Affordability Relief Program (CU HARP), unveiled in November, and a complementary program to provide contingent liquidity for the corporate credit union system, the Credit Union System Investment Program (CU SIP). Ensure your information is accurate to successfully verify and access your profile.
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Education
Bachelor of Science in Business Administration, Valparaiso University, 1967.
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References
You’re going to remove the case study and this can not be undo Please verify for the last time. Commissioner Illinois Court Claims, 1989—2003. He also holds a Master of Business Administration degree from the University of Chicago Executive Program, and a Juris Doctor from Loyola University School of Law.
Immediately after being sworn in as Chairman of the NCUA Board, Fryzel faced the most severe financial crisis since the Great Depression.
Fryzel also addressed the severe liquidity challenges facing the credit union industry by requesting and receiving from Congress the authority to increase the borrowing authority of the Central Liquidity Facility from $1.5 billion to $41.5billion. Simply click the link to confirm your identity and access your profile instantly
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