Former NCUA Chair Rodney Hood Appointed Acting Director, Office of the Comptroller of the Currency

Effective today, former National Credit Union Administration Chair Rodney Hood has taken the reins as Acting Comptroller of the Currency. He was appointed to the position by U.S. Secretary of the Treasury Scott Bessent.

The Office of the Comptroller of the Currency (OCC) is a federal agency within the framework of the U.S. Department of Treasury and is responsible for chartering, regulating, and supervising national banks and federal savings associations. It also oversees federal branches and foreign banks operating in the U.S. The OCC is the primary safety and soundness regulator for the nation’s largest banks.

While the OCC does not currently regulate credit unions, Hood is well known in the industry. He served two stints on the NCUA Board of Directors, one beginning in 2005 and the other in 2019, when President Trump designated him as Chair.

“Throughout his time at NCUA, Rodney Hood maintained a strong relationship with GoWest and our member credit unions,” said GoWest President and CEO Troy Stang. “He was continuously accessible to discuss important issues.  He helped steer NCUA and credit unions through the COVID-19 pandemic, and his leadership helped to modernize regulations so credit unions could better serve their members. We certainly wish him well in this important new role.”

The Trump administration is evaluating the roles of agencies across the U.S. government. Hood’s knowledge of credit unions could help to guide discussions about possible restructuring of financial regulatory agencies.

Posted in Advocacy on the Move, Regulatory Advocacy.