Seal of the Office of the Comptroller of the Currency. (Credit/AdobeStock)
The Trump administration on Friday appointed former NCUA Chair Rodney Hood E. Hood as acting comptroller of the currency.
Treasury Secretary Scott Bessent said Hood’s appointment is effective Monday.
Hood served as chair of the NCUA Board from April 2019 to January 2021. He was also vice chair from 2005 to 2009.
“I am grateful for the trust of Secretary Bessent and will work diligently to promote a regulatory environment that is effective without being excessive,” Hood said in an OCC news release.
“I remain committed to a balanced framework – one that fosters innovation, expands financial inclusion, and ensures that all Americans have fair access to the financial services they need to thrive,” he said. “I look forward to leading the dedicated career staff at the OCC, whose expertise and commitment are essential to maintaining a safe and sound banking system.”
Hood succeeds Acting Comptroller Michael J. Hsu, who has served in the role since May 10, 2021.
“I thank Mr. Hsu for his many years of dedicated public service and his commitment to strengthening the resilience of the U.S. banking system,” Hood said.
The North Carolina native holds a bachelor’s degree from the University of North Carolina at Chapel Hill.
Hood’s appointment drew congratulations from Bob Broeksmit, president/CEO of the Mortgage Bankers Association.
“Rodney Hood’s extensive experience and knowledge in financial services and regulation, including as Chairman of the National Credit Union Administration during the first Trump administration, will serve him well as Acting Comptroller and as a board member of the Federal Deposit Insurance Corporation,” Broeksmit said.
“We look forward to his insights on how to bring more innovation to the banking sector and ensuring it serves the needs of all Americans,” he said.
Credit union industry leaders added their enthusiasm to the news of Hood's appointment.
“Rodney’s selection is an incredible choice by President Trump. He understands the American financial system and should be a valued and trusted voice on the economic challenges our country faces," Defense Credit Union Counci's Chief Advocacy Officer Jason Stverak said.
America's Credit Unions President/CEO Jim Nussle said, “America’s Credit Unions congratulates Rodney Hood on his appointment as Acting Director of the OCC. We worked closely with Hood during his tenure at the NCUA and shared and encouraged his vision for a regulatory environment that reduces burdens and promotes growth for the credit union system. To the extent we engage with the OCC, we look forward to continuing to work with Hood in policy work when we need to ensure a fair environment for our members."
Contact Jim DuPlessis at [email protected].
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