Breaking: Otsuka Confirmed to Serve on NCUA BOD
Posted by John Trull on December 20, 2023
Wednesday afternoon, Tanya Otsuka was confirmed by a Senate voice vote to become a Member of the NCUA Board of Directors.
Otsuka’s nomination for this critical position occurred on September 21, and after being reported out of the Senate Banking Committee on November 7, she had been awaiting full Senate confirmation. Her confirmation, a widely anticipated event, marks a significant milestone in her distinguished career in public service. Otsuka’s journey includes serving as an attorney for the Federal Deposit Insurance Corporation (FDIC) following the 2008 financial crisis, and she has since made significant contributions in her most recent role with the Senate Banking Committee where she managed financial services issues, including credit union policy and oversight.
Otsuka’s ability to effectively bridge political divides and actively engage with all concerned parties has earned her widespread praise from colleagues across the political spectrum. These skills, combined with her experience in incorporating diverse input into policy decisions, highlight her ability for this important role. As we look forward to her tenure on the NCUA Board, the Association anticipates that Otsuka will be appointed as Vice Chair. In this position, we expect her to prioritize consumer protection and align with the agenda set forth by Chair Todd Harper. Among her initial focuses, we anticipate significant developments including the finalization of a rule simplifying share insurance, the proposal of a rule to modernize investments, and a collaborative multi-agency rulemaking on incentive-based compensation, all of this expected in the first half of 2024!
In recognition of her confirmation, the Association will be sending Tanya Otsuka a congratulatory letter. We are also actively working to schedule meetings with her during the upcoming National Governmental Affairs Conference (GAC) and during 2024’s Hike the Hill events. These engagements will provide an excellent opportunity for us to collaborate with Otsuka and with all the Members of the Board, to ensure that the voices and concerns of the credit union community are heard and addressed by NCUA.