WASHINGTON—Former NCUA Chairman Rodney Hood has been named Acting Comptroller of the Currency.
Treasury announced the appointment—effective Feb. 10—late Friday.
Treasury Secretary Scott Bessent made the appointment.
“I am grateful for the trust of Secretary Bessent and will work diligently to promote a regulatory environment that is effective without being excessive,” said Hood. “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. 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," said Hood.
Hood was the 11th NCUA chairman, serving in that role from 2019 to 2021. Hood was the first African-American to lead a federal banking agency.
Two Terms
Hood served two separate terms on the NCUA board. Former President George W. Bush tapped Hood to serve in November 2005, and Hood completed his first term in August 2009.
Washington credit union advocate John McKechnie worked at NCUA during Hood’s first tenure on the NCUA board in the early 2000s.
"And I can attest, firsthand, to the qualities that he brings to any regulatory role," McKechnie said. "He’s smart, well-prepared, forward-looking, energetic. I am confident that Rodney will excel in this new post, as he did during his time at NCUA. Good luck and Godspeed to him.”
Defense Credit Union Council Chief Advocacy Officer Jason Stverak called Hood's selection "an incredible choice by President Trump."
"Rodney Hood understands the American financial system and should be a valued and trusted voice on the economic challenges our country faces," Stverak said.
Former NCUA Chairman Dennis Dollar told CUToday.info that Hood is one of the most "balanced regulators" he has ever known.
"He’s tough when the situation requires it and flexible if the circumstances allow," said the Dollar Associates principal partner. "He had exactly the right touch during his two terms at NCUA and certainly will be an effective regulator at the OCC. Nobody will push him around, but he’s not actively looking to burden with over-regulation. I go back to my original description--balanced.”
America’s Credit Unions congratulated Hood on his appointment.
"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," said Jim Nussle, America’s Credit Unions president/CEO. "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.”