Citing ‘deep understanding’ of credit unions, incoming Senate panel chairman cheers new leader for agency

The new chairman of the federal credit union regulator’s board received congratulations Tuesday from the Senate Banking Committee’s incoming chairman, as well as his colleagues on the agency panel itself.

Todd M. Harper was designated chairman of the National Credit Union Administration (NCUA) Board Monday by President Joe Biden; he succeeded Rodney Hood, appointed in 2019 to the chair by President Donald Trump.

In a statement, incoming Banking Committee Chairman Sherrod Brown (D-Ohio) said Harper has “a deep understanding of credit unions.”

“As a Board Member, he has fought for strong consumer protections and capital requirements,” Brown said. “I look forward to working with Chairman Harper and the NCUA to make sure the credit union system works for all of its members, including addressing diversity and inclusion within NCUA and the credit unions it supervises.”

Separately, Harper’s colleagues on the board – former Chairman (now Board Member) Rodney Hood and Vice Chairman Kyle Hauptman – issued a joint statement congratulating the new leader, but with separate comments.

“I look forward to working with him to provide a regulatory framework that helps credit unions meet the evolving needs of members, especially during this difficult time,” Hauptman said. “I wish him well in his new role.”

Hood cited the continuing impact of the coronavirus crisis in offering his comments. “As the effects of COVID-19 continue to directly impact Americans and the credit union community as a whole, I look forward to continuing to work in partnership with my Board colleagues to address these significant challenges in a bipartisan manner in the years ahead,” he said.

Harper’s term on the agency board ends in April, but he may continue to serve until a successor is confirmed by the Senate. Hood’s term runs until August 2023; Hauptman’s to August 2025.

Brown Congratulates Todd Harper on His Designation as Chairman of the NCUA

Hauptman, Hood Congratulate Harper on Being Named NCUA Board Chairman