In what is likely the first video this year of a federal financial regulator lauding non-financial regulatory actions of the administration, the board chairman of the federal credit union regulator appears in a tweet distributed by the White House Friday, praising President Donald Trump.
National Credit Union Administration (NCUA) Board Chairman Rodney Hood appears in the short (38-second) clip praising Trump and his administration for low unemployment in the economy, as reported Friday by the Bureau of Labor Statistics (BLS). On Friday, the BLS reported the overall unemployment rate at 3.5%, the lowest reported in about 50 years.
In the video, Hood (who is African American) notes that Trump “has done more for African Americans than any other president in my lifetime.” He says that, under the current administration, the unemployment rate “has never been better.”
“We now have more people in the working economy than ever before – especially as it relates to African Americans throughout society,” Hood said.
However, Hood makes no mention of credit unions or their regulation in the video.
Hood, a Republican, was nominated by Trump to the NCUA Board twice over the last year: once last year (the Senate never acted; and again this year – winning confirmation. After confirmation, Trump designated Hood as chairman of the three-member board. Hood replaced former chairman (and current board member) J. Mark McWatters, also a Republican, whose term officially ran out in August. McWatters is serving in a holdover capacity.
So far this year, none of the other leaders of federal financial regulatory agencies has appeared in videos on Twitter praising Trump’s actions.