A former federal credit union regulator would take the place of a current federal credit union regulator if confirmed by the Senate, under an “intention to nominate” announced by the White House Monday.
The nomination was officially transmitted to the Senate Wednesday.
Rodney Hood, who previously served as a member of the National Credit Union Administration (NCUA) Board will be nominated to reprise the role by President Donald Trump. The White House announced the president’s “intention to nominate” Hood on Monday. Hood was nominated to serve the remainder of a six-year term expiring in August 2023.
If confirmed, Hood would take the place of current board Member Rick Metsger, whose own term ended in August of last year. A former chairman of the NCUA Board, Metsger continues to sit on the leadership panel until his replacement is confirmed by the Senate. Metsger is a Democrat; Hood is a Republican.
The other sitting member of the board is Chairman J. Mark McWatters, a Republican. His term ends next year.
The board has one other seat open, which was held by former Chairman Debbie Matz, a Democrat. That seat has been open since Matz left the board in May 2016.
The Federal Credit Union Act requires that the board have a bipartisan character to it, with at least one member of the minority party sitting on the board.
Hood was first appointed to the credit union regulator’s board by President George W. Bush Nov. 15, 2005; he was named vice chairman of the board Nov. 30 that year. He served the remainder of a six-year term, leaving the board in August 2009.
According to the biography posted by the White House, Hood is now corporate responsibility manager for JPMorgan Chase and Co. The bio states that he “manages national partnerships with organizations that serve community development, civil rights, and disability community.”
The bio also notes that he also served in the federal Senior Executive Service as associate administrator of the Rural Housing Service at the U.S. Department of Agriculture.
He holds a B.A. in business administration, communications and political science from the University of North Carolina at Chapel Hill.
To date, only one member of the NCUA Board have served more than one time on the board – former Chairman Matz, who served as a member of the board. She left after that term was up, but returned in 2009.
If Hood is confirmed, he would be only the second person to get a second shot at serving on the credit union regulator’s board.
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