Pair of CU regulator nominations up for committee vote Tuesday

Two nominations for seats on the board of the federal credit union regulator are scheduled to be voted on by the Senate Banking Committee Tuesday, just before the panel hears testimony from the nation’s top central banker.

The nominations of Rodney E. Hood (a Republican) and Todd M. Harper (a Democrat) for seats on the National Credit Union Administration (NCUA) Board are scheduled for a vote by the committee on whether to recommend their nominations for approval to the full Senate. The pair appeared before the panel Feb. 14 for a confirmation hearing.

If approved by the committee (as expected, given neither appeared to be opposed by any senator at the hearing, with some senators on both sides of the aisle saying they would vote to approve them), the pair will be considered by the full Senate.

The committee is scheduled to consider the nominations at 9:30 a.m. along with other nominations, including for nominees to the Treasury Department and Federal Housing Finance Authority (FHFA). Thirty minutes later, at 10 a.m., the committee is scheduled to hear testimony from Federal Reserve Board Chairman Jerome H. (“Jay”) Powell in an oversight hearing on the Fed’s semiannual monetary policy report.

Hood and Harper are both nominees of President Donald Trump to seats on the three-member NCUA Board. Hood would replace current Board Member Rick Metsger (a Democrat) to complete a six-year term that ends in August 2023. (Metsger’s term expired in 2017; he’s been serving as a holdover.) Harper would fill a vacant seat that was last occupied by former NCUA Board Chairman Debbie Matz (also a Democrat). If confirmed, Harper would complete a six-year term that ends in April 2021. Chairman J. Mark McWatters, a Republican, rounds out the board; his term ends in August of this year.

Senate Banking Committee hearing schedule