Hood, Harper Sworn In as Hood Is Named NCUA Board Chairman

Rodney Hood and Todd Harper were sworn in as members of the NCUA board on Monday and Hood was immediately appointed chairman of the board by President Trump.

It marks the first time the NCUA board is at full strength, with three members, since Debbie Matz resigned in April 2016.

Hood is a Republican, whose term will expire on Aug. 2, 2023. Hood replaces board member J. Mark McWatters as chairman; McWatters’s term ends in August. McWatters will remain a member of the NCUA board until his term expires.

Hood has previously served on the NCUA board.

Hood replaces Democrat Rick Metsger, whose seat on the board expired in August 2018. Metsger has remained on the board until a replacement was confirmed and sworn in.

Harper is a Democrat; no more than two of the NCUA board members may belong to the president’s political party.

Harper takes Matz’s seat on the board.

The two new members outlined their priorities for their terms.

“As President Trump’s pro-growth economic agenda seeks to empower individuals and communities across the nation, America’s credit unions are on the frontline of providing affordable access and opportunity to the financial system,” Hood said, upon being sworn in.

He said as chairman, he looks “forward to enhancing and modernizing the federal credit union charter, addressing the issues of capital reform and cyber security, creating opportunities for credit unions to serve vulnerable communities, and reducing regulatory burdens.”

McWatters said that Hood “brings a wealth of financial and credit union experience to the position having previously served on the board and will do an outstanding job as chairman.”

Harper said that during his term on the board, he will focus on the issues of capital, liquidity and cybersecurity. He said he also wants to concentrate on the agency’s consumer protection responsibilities and on providing credit to the unbanked and underserved.

“By law, the mission of the credit union system is to promote thrift and serve people of modest means,” Harper said. “That’s why I am deeply committed to increasing access to financial services for all. By providing access to affordable credit, as the Federal Credit Union Act requires, we can also expand our economy, create jobs, and protect American consumers from predatory lending practices. I will focus intently on these issues.”

Hood has served as a corporate responsibility manager for JPMorgan Chase, where he managed national partnerships with groups that work on community development, civil rights and with the disabled community.

He also served as the associate administrator of the Rural Housing Service at the Department of Agriculture. The North Carolina Legislature has elected him to a term as a member of the Board of Governors for the University of North Carolina College System.

Hood earned a B.A. in business administration, communications and political science from the University of North Carolina.

President Trump had nominated Hood last year, but the nomination expired at the end of the 115th Congress. He did not nominate a Democratic member of the board last year.

Harper previously served as the NCUA’s director of public and congressional affairs and as chief policy advisor to Matz and Metsger.

He also was a staffer in the House, serving as staff director of the Capital Markets, Insurance, and Government-Sponsored Enterprises Subcommittee and as senior policy advisor, legislative director, and senior legislative assistant to former Rep. Paul E. Kanjorski (D-PA).

Harper holds an undergraduate degree in business analytics from Indiana University’s Kelley School of Business and a graduate in public policy from Harvard University’s Kennedy School of Government.

Both national credit union trade groups congratulated Hood on his designation as chairman.

“With his previous experience serving on the NCUA Board and industry knowledge, Mr. Hood will be an asset to the agency as it tackles some of credit unions’ most pressing problems,” said NAFCU President/CEO B. Dan Berger.

“We believe it is critical for the effective operation of the agency that the Board be filled by three members,” said CUNA President/CEO Jim Nussle. “As such, we believe a full Board will be most able to address the varied issues facing the credit union industry.”