CU Movement Reaction to NCUA Board Changes

Posted by Lynn Heider on December 21, 2023

As reported Wednesday in Advocacy on the Move, the Senate confirmed Tanya Otsuka to serve on the NCUA Board of Directors, for a term expiring Aug. 2, 2029.

Otsuka has a long career in public policy as it relates to the financial services industry, most recently serving as senior counsel for the U.S. Senate Banking, Housing, and Urban Affairs Committee. She also served as a staff attorney and counsel for the FDIC.

Here’s the buzz about the board changes:

Troy Stang, President and CEO of GoWest Credit Union Association said, “The Credit Union Movement will be well-served by Tanya Otsuka’s service to the NCUA Board of Directors. Ms. Otsuka has a distinguished career in public service and is a proven financial services industry thought leader. We look forward to collaborating with her in the pursuit of policies in the best interests of credit unions and the more than 130 million consumers they serve.”

NCUA Board Chair Todd Harper congratulated Otsuka on her Senate Confirmation, stating, “Tanya brings a deep dedication to public service and many years of financial services law and policy experience to this important role…I look forward to working alongside Tanya on the NCUA Board to strengthen the U.S financial system while protecting  consumers and expanding access to safe, fair, and affordable financial products and services.”

Sen. Sherrod Brown, Chair of the Senate Committee on Banking, Housing, and Urban Affairs, lauded Otsuka’s unanimous confirmation, noting that it’s also historic as she becomes the first Asian American to serve on the board in the agency’s 53-year history.

“Ms. Otsuka has impeccable credentials and will be an asset to the Board and a strong voice for consumers,” said Brown.

As Otsuka takes her seat on the board, Rodney Hood completes his service. Hood served the NCUA twice, having been nominated by two Presidents, and his service included a stint as Chair. Stang issued a statement in appreciation of his service to the agency.

“Nominated by two Presidents for a position on the NCUA Board of Directors, Rodney Hood went above and beyond in fulfilling the agency’s mission of protecting the cooperative, member-owned charter. During his time as a director and as Chair of the Board, Mr. Hood guided effective regulatory advancements, looked out for the best interests of members of credit unions, and advanced policies that helped credit unions to best serve those members. We hope that in his next chapter, Mr. Hood will continue to be a part of the Credit Union Movement where he has left such a remarkable footprint,” said Stang.

Posted in Advocacy on the Move, Regulatory Advocacy.